If you use TVMSolver to solve these questions, be sure and s…
If you use TVMSolver to solve these questions, be sure and show your inputs in your written work so you can get full credit. State your answers to the nearest cent. Sara has created a budget for her retirement and would like to have a retirement income of $3500 per month. She is hoping to live for 30 years in retirement. Her 401K earns 7.5% per year compounded monthly. A) How much money will she need to have in her account at retirement? [PV] B) If she is planning on working for 25 years before retiring, how much must she put into her account each month to make sure she reaches her goal? [PMT]
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