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J. Dee is at retirement and has a large amount of ready cash on January 1. She wants to deposit enough cash in a fund

J. Dee is at retirement and has a large amount of ready cash on January 1. She wants to deposit enough cash in a fund to receive back $64,000 each December 31 for the next five years, starting this year. Assuming 10% compound interest, how much cash must Dee deposit on January 1? $Answer

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