• Create a numerical example in which you have an estimate of how much money you need to have when you retire and then calculate the monthly amount you need to save to reach your goal. Assume the rate of interest is $8\%$ and inflation rate is $2\mathrm{.}4\%$

 

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Heres a numerical example to calculate the monthly savings required to reach your retirement goal 1 Define your retirement goals Target Retirement Age ... View the full answer