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Use of Financial Calculator TI BA II Plus Required

Question 115

Multiple Choice

Use of Financial Calculator TI BA II Plus required. You are 24 and will earn a pension of $21 000 on retirement at age 65. You want to supplement this with additional income of $15 000 for 20 years from your own retirement funds. How much should you save each year to meet this long-term goal? Assume investment returns should average seven percent over the long term (for saving and in retirement) .


A) $699
B) $641
C) $796
D) $740

Correct Answer:

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