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BE6-5Sally Medavoy will invest $8,000 a year for 20 years in a fund that will earn 6% annual interest. If the first pay. ment into

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BE6-5Sally Medavoy will invest $8,000 a year for 20 years in a fund that will earn 6% annual interest. If the first pay. ment into the fund occurs today, what amount will be in the fund in 20 years? If the first payment occurs at year-end, what amount will be in the fund in 20 years? BE6-6 Steve Madison needs $250,000 in 10 years. How much must he invest at the end of each year, at 5% interest, to meet his needs

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