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Using Time Value to Estimate Savings. DeMarcus wants to retire with $ 1 million in savings by the time he turns 6 5 . He

Using Time Value to Estimate Savings. DeMarcus wants to retire with $1 million in savings by the time he turns 65. He is currently 18 years old. How much will he need to save each year, assuming he can get a 13% annual return on his investments?
The amount DeMarcus will need to save each year, PMT, is $,(Round to the nearest cent.)(Use your financial calculator or you may use the Financial Tables in Appendix C in computing your answer.)
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