Question: Drew currently has nothing saved for his retirement, which will start in 4 years from today. Drew wants to receive $64,000 each year for 7

Drew currently has nothing saved for his retirement, which will start in 4 years from today. Drew wants to receive $64,000 each year for 7 years during retirement. The first of these 7 payments will be received in 4 years from today. Drew can earn a return of 6.2 percent per year in his account. How much does Drew need to save each year for 4 years to have exactly enough to meet his retirement goal if he makes his first annual contribution to savings today and all savings contributions are equal?

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