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You believe you will need $1.75 million to live comfortably while retired. You are 35 and plan on retiring when you are 65 and will begin withdrawing funds from your retirement account on your 66th birthday. You expect to need 25 years of retirement income. Calculate the amount you must invest annually in real dollars to meet your retirement goal. Assume 7% is the fair nominal rate and inflation is 3% per year (the real rate is 3.89%).

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92793321

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