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Jammie want to purchase a ship in 8 years when she will retire.She will buy the ship by by selling a land which is now
Jammie want to purchase a ship in 8 years when she will retire.She will buy the ship by by selling a land which is now worth $90,000 and it will grow at a 7 percent a year.The The value of the ship is$200,000 which is increasing at a rate of 5 percent per year.In addition to the value of his land how much additional money should she deposit at the end of each year in an account paying 9 percent annual interest in order to be able to buy the ship upon retirement?
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