Question

Mary plans on retiring in 30 years by purchasing a house on the coast. She estimates she will need $1,000,000

saved at that time and is starting now. What payment would Mary need to make yearly into a savings account with a tax-rate of 35% and an average market return of 8.0%?

A. $14,542

B. $12,221

C. $8,483

D. $13,333

E. $10,944

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