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In 10 years, you want to start your own company. So you plan to save an equal annual amount at the end of each year
In 10 years, you want to start your own company. So you plan to save an equal annual amount at the end of each year for the next 10 years in an investment that pays 5% interest compounded annually. At the end of 10 years, you want to withdraw $100,000. How much do you need to save each year to achieve this goal? (Note: Assume that you will make a deposit the last year at the same time you are withdrawing the $100,000.)
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