Business, 25.04.2020 00:35 jumeljean123oythxy

Ron is 30 years old and is retiring at the age of 65. When he retires, he will need a monthly income of $1,270 for 10 years. If Ron contributes 5% of his monthly income to a 401(k) paying 2.75% compounded monthly, will he reach his goal for retirement given that his monthly income is $1,571.12?
If he does not make his goal then state by what amount he will need to supplement his income?
Round all answers to the nearest cent.

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Ron is 30 years old and is retiring at the age of 65. When he retires, he will need a monthly income...

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