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A man is planning to retire in 25 years He wishes to deposit a regular amount every three months until he retires so that beginning one year following his retirement he will receive annual

 A man is planning to retire in 25 years. He wishes to deposit a regular amount every three months until he retires, so that, beginning one year following his retirement, he will receive annual payments of $80,000 for the next 15 years. How much must he deposit if the interest rate is 6% compounded quarterly? The required amount of deposit is 5 (Round to the nearest dollar.)

Apr 01 2020 View more View Less

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