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    cheadoch's Avatar
    cheadoch Posts: 2, Reputation: 1
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    #1

    Jun 2, 2010, 09:52 AM
    Mr. Believe he will need $ 60,000 annual income during retirement. If he can achieve
    Mr. Cheaf believe he will need $ 60,000 annual income during retirement. If he can achieve a 5% return during retirement and believes he will live 30 years after retirement, how much does he need to save by the time he retires?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Jun 2, 2010, 11:12 AM

    Since this is a homework assignment, I suggest you try and work this out and then post the answer, and we'll check it for you. Here's a hint to get you started - check your text book to see how to make calculations of present value.

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