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Suppose that you are planning for retirement. You plan to work for 30 years. For the next 15 years, you can save $10,000 per year
Suppose that you are planning for retirement. You plan to work for 30 years. For the next 15 years, you can save $10,000 per year (with the first deposit being made one year from now). How much will you have to save per year in years 16 through 30 so that you have exactly $1,500,000 saved up when you retire? Assume that the interest rate is 10 percent per year
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