1. You are trying to determine how much you need in order to retire comfortably....
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Accounting
1. You are trying to determine how much you need in order to retire comfortably. You would like a monthly retirement income of $20,000 and anticipate living for 30 years in retirement. The first retirement check will come at the end of your first month of retirement. You have already saved $40,000. You expect to earn 6% on your investments. You have 40 years until you retire. How much must you save at the end of each month between now and the day you retire, with your first savings deposit in one month, in order to fund your retirement?
a. $1,212.46
b. $1,454.96
c. $4,437.30
d. $1,745.95
e. $3,395.30
I know the answer is in bold, but i do not know how to get here with a BA ii plus
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