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You want to retire in precisely 40 years from today. Your goal is to have accumulated a wealth of $490,000 on the day that you
You want to retire in precisely 40 years from today. Your goal is to have accumulated a wealth of $490,000 on the day that you retire. What equal, annual, end-of-year amount must you deposit into your retirement account for each of the next 40 years? Assume an expected rate of return of 6.00% per year in your calculations. Round answer to nearest dollar.
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