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Bill starts a retirement fund at age 2 1 and plans on depositing equal annual amounts on each birthday, starting at age 2 1 ,
Bill starts a retirement fund at age and plans on depositing equal annual amounts on each birthday, starting at age and ending at age He wants to have $ million at age John starts his fund on his th birthday. He wants to deposit equal annual amounts on each birthday starting on his th birthday and ending on his th birthday. John wants to have $ million at age If the investment funds earn per year, calculate the amounts the Bill and John respectively will have to save each year rounded to the nearest dollar to meet their goals. Comment on the difference.
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