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A recent graduate decided to have $1 million ready for retirement 30 years from now. The...

A recent graduate decided to have $1 million ready for retirement 30 years from now. The estimated retirement money is estimated in today’s dollars. Savings will be made each month and will be deposited into a mutual fund which is expected to earn 0.45% per month. If compounding is monthly and inflation rate is expected to be 2% per year for the next 30 years, how much should be saved per month?

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