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(Solved): Suppose you wish to retire at the age of 60 with $80,000 in savings. Determine your monthly payment ...



Suppose you wish to retire at the age of 60 with

$80,000

in savings. Determine your monthly payment into an IRA if the APR is

7.5%

compounded monthly and you begin making payments at 25 years old. Round your answer to the nearest cent, if necessary.

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