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You plan to retire in 40 years and would like to be able to spend $4,000 a month (at the end of every month) in
You plan to retire in 40 years and would like to be able to spend $4,000 a month (at the end of every month) in retirement, and you estimate that you will live for 25 years in retirement. How much do you need to save per month (end of every month) between now and retirement to meet your goal? a. Assume interest rate = 5% Save per month = _____________ b. Assume interest rate = 10% Save per month = _____________
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