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4. In a previous homework, we learned that skipping your daily Starbucks fix would save you $180 per month. If you invested those savings in a retirement account earning 0.25% per month compound interest, you would have an additional S166,691 saved up by time you retire. Assuming you will live 20 years after retiring, how much additional monthly income will this provide you in your retirement?

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Additional savings at the time of retirement-PV-$166,691 Rate of interest per months-0.25% per month Number of periods-n-20*1

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