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Ruth and Jim Johnson of Chicago, Illinois, desire an annual retirement income of $40,000. They expect to live for 30 years past retirement. Assuming that the couple could earn a 3 percent after-tax

Ruth and Jim Johnson of Chicago, Illinois, desire an annual retirement income of $40,000. They expect to live for 30 years past retirement. Assuming that the couple could earn a 3 percent after-tax and after-inflation rate of return on their investments, what amount of accumulated savings and investments would they need?

 

May 19 2021 View more View Less

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