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Business, 22.06.2019 21:20 airsealands

Bilbo baggins wants to save money to meet three objectives. first, he would like to be able to retire 30 years from now with retirement income of $30,500 per month for 25 years, with the first payment received 30 years and 1 month from now. second, he would like to purchase a cabin in rivendell in 10 years at an estimated cost of $405,000. third, after he passes on at the end of the 25 years of withdrawals, he would like to leave an inheritance of $1,425,000 to his nephew frodo. he can afford to save $3,800 per month for the next 10 years. if he can earn an ear of 10 percent before he retires and an ear of 7 percent after he retires, how much will he have to save each month in years 11 through 30?

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