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John is 3 0 years old and wants to have 1 million dollars in savings by the time he retires at 6 5 . He

John is 30 years old and wants to have 1 million dollars in savings by the time he retires at 65. He plans to open a savings account that pays 5% interest compounded quarterly and he will be making quarterly deposits of $200 into the account.
John will need to make an initial deposit of $
to reach his goal of 1 million dollars in

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