Judy would like to have $200,000 saved in her retirement account in 20 years. Assuming an interest rate of 10%, how much should she contribute each year?
A) $3,491.92
B) $2,000.00
C) $2,576.11
D) $4,376.77
Answer: A
Explanation: A) (Exhibit 3.3) $200,000/57.275 = $3,491.92 (rounded)
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