You have an aunt who is 55 years old. She is going to retire when...
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You have an aunt who is 55 years old. She is going to retire when she turns 65: that is, ten years from now. She would like to have an annual income of $30,000 from age 66 to 75. She would also like to have a bank balance of $100,000 at age 75. She wants you to find out how much she needs to save every year from age 56 to age 65 to make this possible. Assume an interest rate of 6% compounded annually
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