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You would like to earn $53,816 over a period of 34 years after your retirement. You have just started saving for retirement, and you expect

You would like to earn $53,816 over a period of 34 years after your retirement. You have just started saving for retirement, and you expect to work for 27 years.

The expected return on your retirement savings is 7%

How much do you need to save every year (27 years) until retirement?

Round your answer to the nearest two decimals.

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