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3. a. How much must Katie Wilson set aside each year to accumulate $80,000 after 15 years? The interest rate is 10 percent. b. How

3. a. How much must Katie Wilson set aside each year to accumulate $80,000 after 15 years? The interest rate is 10 percent.

b. How much must Josh Thompson repay each year for five years to pay off a $20,000 loan that he just took out? The interest rate is 8 percent.

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