Question: please solve and show work on paper A couple just got married and they are both 25 years of age. They each plan to retire

please solve and show work on paper

A couple just got married and they are both 25 years of age. They each plan to retire in 40 years at the age of 65 . They want to be able to receive $200,000 at the end of each year for 20 years, upon retirement (so their first retirement payment will be in year 41. Currently they have a total of $2,000 in cash savings. J How much must they save at the end of each year for the next 40 years so as to have enough money to achieve their retirement goal? Assume the interest rate is 8% and will remain the same. Also assume that they start saving at the end of the first year. Round your final answer to the nearest cent

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