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You want to save enough money by the time you retire at 65 for having that incom
You want to save enough money by the time you retire at 65 for having that income kept up with inflation from retirement forever.
Assume that you are 30 years old now. You plan to invest your saving earning 7% per year after tax.
You appreciate that a retired person nowadays needs a yearly $70 000 income
and the inflation rate will average 3% per year.
You will do this saving in annual instalments growing at 4,50% rate.
Create a model to calculate how many dollars will you have invested at retirement and how much money you will have to save in the first year.
Make all of these input variables so that a user can use the model for different realistic given values.
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