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B. You need to have $50,000 at the end of 10 years. To accumulate this sum, you have decided to save a certain amount at
B. You need to have $50,000 at the end of 10 years. To accumulate this sum, you have decided to save a certain amount at the end of each of the next 10 years and deposit it in the bank. The bank pays 8 percent interest compounded annually for long-term deposits. How much will you have to save each year (to the nearest dollar)? (9+9)
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