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Cheryl demanded that she receive $114000 as a signing bonus from her new basketball team. The owners agreed, instead, to pay her the equivalent of
Cheryl demanded that she receive $114000 as a signing bonus from her new basketball team. The owners agreed, instead, to pay her the equivalent of $114000 over the next 5 years. Assuming a 4% interest rate, how much will Cheryl receive each year? (Round your answer to the nearest dollar) Jed is going to retire and wants to have $95000 at the end of 5 years. How much does Jed have to save each year to meet his financial goal, assuming 4% interest. (Round your answer to the nearest dollar.)
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