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How much would you need to deposit now in a savings account that earns 12% interest, compounded annually, in order to withdraw $5,400 at the
How much would you need to deposit now in a savings account that earns 12% interest, compounded annually, in order to withdraw $5,400 at the end of every year for ten years?
$30,511
$39,522
$39,402
$54,000
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