You wish to retire in 20 years, at which time you want to have accumulated enough money
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You wish to retire in 20 years, at which time you want to have accumulated enough money to receive an annual annuity of $12,000 for 25 years after retirement.
During the period before retirement you can earn 8 percent annually, while after retirement you can earn 10 percent on your money.
What annual contributions to the retirement fund will allow you to receive the $12,000 annuity?
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Felix Onchweri
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Related Book For 
Foundations Of Financial Management
ISBN: 9780073295817
12th Edition
Authors: Stanley B Block, Geoffrey A Hirt
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