Beginning at the end of this year to reach his target

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James Perkins wants to have a million dollars at retirement, which is 15 years away. He already has $200,000 in an IRA earning 8 percent annually. How much does he need to save each year, beginning at the end of this year to reach his target? Assume he could earn 8 percent on any investment he makes. (Round to the nearest dollar.)

Entry field with incorrect answer

$10,900

$13,464

$14,273

$16,110

Reference no: EM13987805

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