The end of each year to meet retirement goal

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Reference no: EM131948816

John, age 28, is looking to retire at age 62, with a retirement income of $40,000 per year in today’s dollar for 30 years. He can earn a 9% return on his investments and inflation is 3%. How much must he save at the end of each year to meet his retirement goal if his last savings payment is at age 62?

Reference no: EM131948816

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