Jeff has $306,000 in his savings account now. He plans to retire 7 years from...
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Jeff has $306,000 in his savings account now. He plans to retire 7 years from now, and he wants to have an income of $5,046 per month for 25 years after he retires. He earns 6% APR on his savings. How much will Jeff have to save each month for the next 7 years to have enough to meet his income goal when he retires? Round you answer to 2 decimal places, for example 1000.12
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