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You plan to retire in exactly 40 years. Your objective is to have saved $5,000,000 by that point (which is quite modest if you account

You plan to retire in exactly 40 years. Your objective is to have saved $5,000,000 by that point (which is quite modest if you account for inflation). You are going to make end-of-year deposits into an account paying 9% annually (with annual compounding). How much will you need to save each year to reach your goal? Express your answer in dollars and cents.

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