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You are planning for your retirement in 22 years. At that time you want to have enough saved to be able to afford to spend

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You are planning for your retirement in 22 years. At that time you want to have enough saved to be able to afford to spend 590,000 per year (starting at time 23) for 22 years (if you live longer than 22 years your kids will have to support you). How much will you need to have saved by time 22 if the expected interest rate from time 22 10 44 is 5 percent per year? 1184670 Correct response: 1,184,670.23110 Suppose that at time 22 you will receive a retirement bonus of $70,000 from your company of the annual percentage rate (APR) is expected to be 10 percent, compounded monthly, from now until time 22. how much would you need to save at the end of each month in order to be able to make the Gesired withdrawals at retirement (le, in order to have $1,184,670.23, including the bonus, saved at time 2217 Number

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