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How much does she need to invest each year

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Mrs. Johnson who is 25 years old (Actually today is her birthday ) and plans to retire at the age of 65. She already has $17,500 in her retirement investment account which is expected to yield 9% return per year. Mrs. Johnson would like to have $1.4m in her retirement account when she retires. How much does she need to invest each year in order to reach her goal?

Reference no: EM132465589

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