Andie is saving for her retirement and want to have $750,000 saved. Her advisor says she can assume a simple interest rate of 4.5% each year. She is currently 25 and wants to retire by age 55. How much money does she need to put into her retirement now?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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 Andie is saving for her retirement and want to have $750,000 saved. Her advisor says she can assume a simple interest rate of 4.5% each year. She is currently 25 and wants to retire by age 55. How much money does she need to put into her retirement now?

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