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How much money does she need to contribute per month

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Question - Jasmine has decided that she wants to build enough retirement wealth that, if invested at 6 percent per year, will provide her with $3,000 of monthly income for 30 years. To date, she has saved nothing but she still has 25 years until she retires. Jasmine believes that she can earn 9 percent on her investments until she retires. How much money does she need to contribute per month to reach her goal?

a. $521.84

b. $446.32

c. $722.05

d. $667.13

Reference no: EM133110912

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