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Suppose instead of ensuring you have enough money to last through your lifetime, you decide to spend $ 2 0 0 , 0 0 0
Suppose instead of ensuring you have enough money to last through your lifetime, you
decide to spend $ per year in retirement. How long until you run out of money?
Use your answer from question a as the amount you saved for retirement.
Assume you plan to leave nothing when you pass away, and you can earn a return on
your investment.
a If you start saving for retirement at age how much will you need to save each
year to meet your savings goal?
b If you start saving for retirement at age how much will you need to save each
year to meet your savings goal?
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