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You have just turned 2 2 years old, received your bachelor's degree, and accepted your first job. Now you must decide how much money to
You have just turned years old, received your bachelor's degree, and accepted your first job. Now you must decide how much money to put into your retirement plan. The plan works as follows: Every dollar in the plan earns per year. You cannot make withdrawals until you retire on your th birthday. After that, you can make withdrawals as you see fit. You decide that you will plan to live to and work until you turn You estimate that to live comfortably in retirement, you will need $ per year, starting at the end of the first year of retirement and ending on your th birthday. You will contribute the same amount to the plan at the end of every year that you work. How much do you need to contribute each year to fund your retirement?
To fund your annual withdrwal of $ in retirement, the amount you need when you retire is Round to the nearest cent.
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