Use of Financial Calculator TI BA II Plus required. Your tax rate is 30 percent and the real return on your savings is 4 percent compounded monthly. Approximately how much will you have to save per month in order to have $80 000 in 25 years to buy a retirement cottage? Assume your investments are not tax sheltered.

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The correct answer is D.To calculate the monthly savings required, we can use the TVM (Time Value of Money) functions on the TI BA II Plus calculator.1. Enter the future value (FV) of $80,000.2. Enter the interest rate (I/Y) of 4% compounded monthly, which is 4/12 = 0.3333%.3. Enter the number of periods (N) of 25 years, which is 25 * 12 = 300 months.4. Enter the tax rate (TAX) of 30%.5. Press the "PMT" button to calculate the monthly payment.The calculator will display the monthly payment as $184.03, which is rounded to $184.

Use of Financial Calculator TI BA II Plus Required