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How much money must you set aside per month

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Question - You would like to have $5 million dollars when you retire at age 65. You are 25 years old and you want to make your first savings payment one month from now. You have already saved $36,000 for your retirement. Assume interest rate is 7%, how much money must you set aside per month until and including your 65th birthday?

Reference no: EM132798598

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