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Trevor Smith wants to have a $ 1 . 3 million at retirement, which is 1 5 years away. He already has $ 1 2

Trevor Smith wants to have a $1.3 million at retirement, which is 15 years away. He already has $120,000 in an IRA earning 7.5 percent annually. How much does he need to save each year, beginning at the end of this year to reach his target? Assume he could earn 7.5 percent on any investment he makes. (Round to the nearest dollar.)

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