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QUESTION
Pearl has an opportunity to save through her company's 401K retirement plan. The APR is 4.
- Pearl has an opportunity to save through her company's 401K retirement plan. The APR is 4.75%. Develop a strategy for Pearl by determining how much she should contribute monthly to the 401K so she will have at least 700,000 but not more than $725,000 after 32 years of monthly saving. (Hint: You will need to use excel by testing out different numbers to make this true. Which monthly rate is needed to get the value of her retirement within range?)
