Question: You just started a new job and will work for the next 40 years before retiring. You want to have saved $1 million when you

You just started a new job and will work for the next 40 years before retiring. You want to have saved $1 million when you retire. Assuming you have no savings today, how much you save each year if interest rates are about 5.2% in order to have $1 million at retirement?

$8,278.16

$25,000.00

$7,883.96

$142,045.68

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