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TheJag18:
(Planning for Retirement MC) A person is 21 years old and plans on retiring at age 55. This person is going to invest $50 each month into an IRA that is expected to earn 2.5% interest, compounded monthly. How much more money, rounded to the nearest dollar, is needed per month to reach a retirement savings goal of $100,000? A spreadsheet was used to calculate the correct answer. Your answer may vary slightly depending on the technology used. $50 $56 $106 $156
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