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How much should rahill need to deposit now in a bank account

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Problem 1: Rahill feels he needs RM80,000 per year during their retirement years in order to live comfortably. He will retire 30 years from now and expect a 35-year retirement period after that. How much should Rahill need to deposit now in a bank account paying 7 percent to reach financial happiness during retirement? Assuming all the periods the interest rate is at 7%

Reference no: EM132809886

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