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8 . ( a ) Suppose Studebaker's goal is to accumulate $ 4 0 0 , 0 0 0 in 2 0 years. Assume the
a Suppose Studebaker's goal is to accumulate $ in years. Assume the $ is invested at percent. How much will he have to save in equal amounts at the end of each of the next years if he can earn percent per year on any investments?
b Repeat part a but assume he will not be able to save any money in years to This is he will save an equal amount at the end of years to and nothing thereafter.
Can someone please explain how to do this in really simple terms? Especially how to determine the equal yearly amount needed.
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