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# You'd like to buy a small ranch when you retire in 30 years. You estimate that in 30 years you'll need \$4,000,000 to do so.

You'd like to buy a small ranch when you retire in 30 years. You estimate that in 30 years you'll need \$4,000,000 to do so. If you can earn 1% per month, how much will you need to invest each month (for 30 years), starting next month, in order to reach your goal?

1. \$ 858.38
2. \$ 1,144.50
3. \$ 1,430.63
4. \$ 3,130.34
5. \$ 5,334.87

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