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You are planning for your retirement and want to determine how much money to have in your 401(k) plan when you retire at 65.
You are planning for your retirement and want to determine how much money to have in your 401(k) plan when you retire at 65. You want this fund to provide you with $4,500 per month for 30 years. You assume you will earn 3% interest (compounded monthly) on your 401(k) plan during your retirement. How much should you have in the fund when you retire?
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
