Question: You believe you will spend $ 4 4 , 0 0 0 a year for 1 6 years once you retire in 3 2 years.

You believe you will spend $44,000 a year for 16 years once you retire in 32 years. If the interest rate is 7% per year, how much must you save each year until retirement to meet your retirement goal?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

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