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8) Retirement Planning: An ordinary annuity earning 6.25% compounded annually is structured so that a person makes equal annual deposits into the account for 25

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8) Retirement Planning: An ordinary annuity earning 6.25% compounded annually is structured so that a person makes equal annual deposits into the account for 25 years and then withdraws 20 equal annual payments of $30,000, reducing the balance to zero. How much must be deposited annually to accumulate enough money to provide these future payments? How much total interest is earned during this 45 year process

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