Problem regarding saving for retirement

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You are saving for retirement , to live comfortably, you decide you will need to save $2 million by the time you are 65. today is your 30th birthday , and you decide, starting today and continuing on every birthday up to and including your 65th birthday, that you will put the same amount into a saving account. if the interest rate is 5%. How much must you set aside each year to make sure that you will have $2 million in the account on your 65th birthday?

Reference no: EM13160072

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