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You would like to earn $38,901 over a period of 28 years after your retirement. You have just started saving for retirement, and you expect

You would like to earn $38,901 over a period of 28 years after your retirement. You have just started saving for retirement, and you expect to work for 26 years.

The expected return on your retirement savings is 5%

How much do you need to save every year (26 years) until retirement?

I would like to see the manual process, without Excel.

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