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How much must Ed save at the beginning of each year

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Question - Ed, age 25, expects to retire at age 60. He expects to live until age 90. He anticipates needing $45,000 per year in today's dollars during retirement. Ed can earn a 12% rate of return, and he expects inflation to be 4%. How much must Ed save, at the beginning of each year, to meet his retirement goal?

Reference no: EM133110390

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