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John Smith wants to retire in 15 years. He anticipates he will need $3,000,000 to retire. John has an account that currently pays 5% compounded

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John Smith wants to retire in 15 years. He anticipates he will need $3,000,000 to retire. John has an account that currently pays 5% compounded annually. If John has $1,100,000 in his account today how much additional money must he deposit in the account today to have $3,000,000 when he retires? (ROUND TO THE NEAREST DOLLAR) Answer: $

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