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Stan wants to save for his retirement in 10 years. During his 30-year retirement, he plans to spend $5,000 monthly, while earning 5% annually from

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Stan wants to save for his retirement in 10 years. During his 30-year retirement, he plans to spend $5,000 monthly, while earning 5% annually from his retirement funds. He will save monthly in his 401K retirement fund with his employer over the next 10 years, where he plans to earn 12% annually. a. (5 pts) How much must he have saved at the start of retirement in ten years? b. (5 pts) How much must he save monthly, beginning at the end of this month to meet his objective of saving the amount in part a.? Please show all work for credit

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