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A couple you know has 15 years until retirement. Like a lot of individuals and...

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Finance

A couple you know has 15 years until retirement. Like a lot of individuals and couples in the US, they haven't saved as much as they should have. They have a retirement fund balance of $150,000. But they are convinced they can save $2,500 a month for the next 15 years. If they earn about a 7.5% APR on the money they invest, what will their balance be when they are ready to retire?

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