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In order to have money available for replacing their family vehicle, a couple planned to have $220,000 available in 10 years by investing in a

 In order to have money available for replacing their family vehicle, a couple planned to have $220,000 available in 10 years by investing in a global mutual fund. If they plan to increase their savings by 10% each year, how much must they invest in year 1 if they expect to earn 10% per year on their investments?

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