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Suppose that you are 2 2 years old, and have just accepted a job as an investment banking analyst in New York, at a starting
Suppose that you are years old, and have just accepted a job as an investment banking analyst in New York, at a starting salary of $ per year. You intend to work for years and to retire at During retirement, you intend to withdraw monthly from your retirement savings for years. You expect that during retirement, you will need $ at the start of every month, after tax assume you will pay tax at a rate of on all the monthly withdrawals Assume that you can earn per year APR on your investments.
a How much money would you need to have in your retirement accounts, when you retire?
b How much would you have to save at the end of every month during your working life, if you intend to save the same monthly amount?
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