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5. Suppose you want to have $800,000 for retirement in 20 years. Your account earns 7% interest compounded annually. a) How much would you need

5. Suppose you want to have $800,000 for retirement in 20 years. Your account earns 7% interest compounded annually. a) How much would you need to deposit in the account today? b) How much interest will you earn

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