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You anticipate retiring in 30 years and believe that it will cost you $2,500 a month to live comfortably. You also believe that you will
You anticipate retiring in 30 years and believe that it will cost you $2,500 a month to live comfortably. You also believe that you will live for 25 years after you retire. Assume that the applicable interest rate is 3% with quarterly compounding. a. How much do you need to have in your savings account when you retire? b. If you make equal bi-weekly payments into your savings account to fund your retirement, what would be the value? c. List and explain the three main reasons why a dollar now in worth more than a dollar in the future
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