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50 years ago, X amount of money was deposited at 3.8% interest rate (compounded yearly). Currently, there is Y amount of money in the account.
50 years ago, X amount of money was deposited at 3.8% interest rate (compounded yearly). Currently, there is Y amount of money in the account. Now, If we invest Y in a perpetual annuity we can get $30,000 at the end of each year, indefinitely. How much money was deposited originally (i.e., calculate X). Margin of error: +/- 100
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