Listen Parker is doing some retirement planning. He would like to have a retirement income...
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Listen Parker is doing some retirement planning. He would like to have a retirement income of $3,000 at the beginning of each month during his retirement. He expects his retirement to last for 20 years and that his fund will earn 112=3.6% during retirement. a) How much money must Parker have in his account on the day he retires in order to fund his retirement? A b) How much must Parker deposit at the end of each month into his retirement fund from now until retirement in order to have enough to fund his retirement goal? Assume that he already has $30,000 in his account and that he will retire in 30 years
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