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You are 27 years old and want to retire at age 67. You require a 3 percent interest rate to invest your money for retirement
You are 27 years old and want to retire at age 67. You require a 3 percent interest rate to invest your money for retirement and require 4 million dollars upon retirement at age 67. How much money will you invest each month at a 3 percent interest rate until you retire in order to get 4 million upon retirement? Explain your answer fully and be sure to include the concepts we discussed in class.
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