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Suppose you plan to retire at 60. You are currently 25. Youd like to have $1,000,000 when you retire. Assume that your saving instrument offers
Suppose you plan to retire at 60. You are currently 25. Youd like to have $1,000,000 when you retire. Assume that your saving instrument offers a 7% interest rate.
You want to make yearly contributions. How much would you need to save every year?
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