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George plans to accumulate $100,000 at the end of 42 years. He makes the following deposits: 1. $1,000 right away 2. $X at the beginning
George plans to accumulate $100,000 at the end of 42 years. He makes the following deposits:
1. $1,000 right away
2. $X at the beginning of years 2-12
3. No deposits at the beginning of years 13-32
4. $Y at the beginning of years 33-42
The annual effective intereset rate is 4%. X-Y=100. Calculate Y.
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