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8. John is 25 years old and wishes to retire in 30 years. His plan is to invest in a mutual fund earning a 8

8. John is 25 years old and wishes to retire in 30 years. His plan is to invest in a mutual fund earning a 8 percent annual return and have a $1 million retirement fund at age 55. How much must he invest at the end of each year to achieve this goal?

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