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You just turned 21 years old and want to retire when you turn 63. You expect to live for 25 years after retirement and expect

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You just turned 21 years old and want to retire when you turn 63. You expect to live for 25 years after retirement and expect to withdraw $8,000 per month during retirement, starting first withdrawal one month after your 63th birthday. Your retirement account quotes a return of 5% annually. Attempt 1/3 for 10pts. How much retirement money do you need to have by 63 th birthday to support the withdrawal? Attempt 1/3 for 10 pts. How much should you save each month if you make the first deposit one month after 21 th birthday and the last one on 63 th birthday

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