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Bill Gates wants to set up a trust fund that would start making 30 annual payments to his son Micro with the first payment 18
Bill Gates wants to set up a trust fund that would start making 30 annual payments to his son Micro with the first payment 18 years from today. The first ten payments will be $50 million a year, the second ten payments will be $100 million a year, and the last 10 payments will be $200 million a year. How much would Bill Gates have to deposit today at 10% compounded annually in order to fund these future trust fund payments?
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