Bernie has set aside no retirement money

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Reference no: EM131562551

Bernie wants to retire to California when she is 60 years of age. Bernie is 40 now. She believes that she will need $900,000 to retire comfortably. To date, Bernie has set aside no retirement money. If Bernie gets 8% compounded semiannually, how much must she invest today to meet her $900,000 goal?

Show me how to do it mathematically and not with a calculator on excel.

Reference no: EM131562551

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