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How much money does she need to have when she retires

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Question - Monica would like to receive $2,000 at the beginning of every month for 18 years after her retirement. If she retires 10 years from now and interest is 6.5% compounded monthly, how much money does she need to have when she retires?

a. $238,828.97

b. $255,648.65

c. $223,758.79

d. $262,217.90

e. $199,923.65

Reference no: EM133093048

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