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Suppose you are 25 years old and would like to retire at age 60. Furthermore, you would like to have a retirement fund from which
Suppose you are 25 years old and would like to retire at age 60. Furthermore, you would like to have a retirement fund from which you can draw an income of $125,000 per yearforever! How much would you need to deposit each month to do this? Assume a constant APR of 5% and that the compounding and payment periods are the same.
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