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John is 0. His mom set up a savings account for him with these terms: starting when he turns 18, he will receive 1000 on
John is 0. His mom set up a savings account for him with these terms: starting when he turns 18, he will receive 1000 on each birthday through his 29th birthday. To ensure that he has enough money, his mom is going to set aside a constant amount of money every year for the next ten years where the first payment will be made a year from today. Today is year 0. Assume an interest rate of 10%. How much does his mom need to put aside each year to assure there is enough in 10 years
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