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Accumulate the money necessary for retirement

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You plan to retire in 35 years and can invest to earn 6.85 percent. You estimate that you will need $82,000 at the end of each year for an estimated 30 years after retirement, and you expect to earn 4.5 percent during those retirement years. How much do you need to set aside at the end of each year to accumulate the money necessary for your retirement? (Assume year-end cash flows.)

Reference no: EM132097889

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