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is 12% compounded annually. 23. A mutual stock fund has grown at a rate of 16% compounded annually since its beginning. if it is anticipated

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is 12% compounded annually. 23. A mutual stock fund has grown at a rate of 16% compounded annually since its beginning. if it is anticipated that it will continue to grow at this rate, how much must be invested every year so that $60,000 will be accumulated at the end of 12 years? 24

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