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What annual fixed amount do you need to contribute

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Question - You want to save for your retirement and a report you have recently read estimates that you will require $1,500,000 in 35-years in order to finance a comfortable retirement. Your investment fund manager suggests you can invest any savings at an average annual rate of 9%. What annual fixed amount do you need to contribute to your retirement fund to save the required $1,500,000 over this 35-year period?

Reference no: EM132837449

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