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You want to retire in 42 years with $4,131,080. You plan to start saving next year and then growing each retirement contribution by 3.25% per

You want to retire in 42 years with $4,131,080. You plan to start saving next year and then growing each retirement contribution by 3.25% per year. You are confident that you can compound your savings at 7.74% per year. How much must your first payment be?

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