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You are 22 years old and decide to start saving for your retirement. You plan to save $4,000 at the end of the first year

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You are 22 years old and decide to start saving for your retirement. You plan to save $4,000 at the end of the first year and then increase your savings by 3% per year until you make the very last deposit at age 65. Suppose you earn 6% per year on your retirement savings. How much will you have saved for retirement right at age 65? (Round to the nearest dollar.) Answer: A project costs $300 million and is expected to generate cash flows of $62 million per year, starting at the end of the first year and lasting forever. What is the internal rate of return? The internal rate of return is _. (Round to 3 decimal places. Do not put in percentage values.)

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