Save each year until retirement to meet retirement goal

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Reference no: EM131590800

You believe you will spend $50,000 a year for 10 years once you retire in 20 years. If the interest rate is 7% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Annual savings $

Reference no: EM131590800

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