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You are saving for retirement. To live​ comfortably, you decide you will need to save $1,000,000 by the time you are 65. Today is your 25th ​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65th ​birthda

You are saving for retirement. To live comfortably, you decide you will need to save

by the time you are . Today is your birthday, and you decide, starting today and continuing on every birthday up to and including your birthday, that you will put the same amount into a savings account. If the interest rate is , how much must you set aside each year to make sure that you will have in the account on your

birthday?


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answered by: Andrew San Andres
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You are saving for retirement. To live​ comfortably, you decide you will need to save $1,000,000 by the time you are 65. Today is your 25th ​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65th ​birthda
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