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You are 35 years old. You are planning to retire at 65. Your life expectancy...

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Finance

You are 35 years old. You are planning to retire at 65. Your life expectancy is 85 and you expect to receive payments from an insurance company for 20 years after your retirement. You need $8000 a month after your retirement to live comfortably. How much should you pay each month for your insurance during your working- life? Assume the interest rates stay at 5% throughout this period.

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