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How much of her inheritance should she transfer

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Question - Mary has inherited money, and would like to go on vacation and also use some for retirement. She believes in her working life of 35 years, she should be able to save $6,000 every year which she plans to deposit in a money market account earning 6.5%. She would at least like to have $1.5 million when she retires. How much of her inheritance should she transfer into her money market account to be able to achieve her goal?

Reference no: EM132999516

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