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Today, you are 47 years old with $300,000 of savings. You want to retire at the age of 57 with a monthly income of $6,000.
Today, you are 47 years old with $300,000 of savings. You want to retire at the age of 57 with a monthly income of $6,000. You expect to live to 97. If you think you can earn 5%, compounded monthly, both before and after retirement, how much should you save each month for the next 10 years so that you can reach your retirement savings goal? Multiple Choice Save $5,871 per month Save $5,481 per month O Save $4,831 per month O Save $3,691 per month
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