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Jon is planning to invest money in an account at the end of each year for six years; this account will earn 6% compounded annually.
Jon is planning to invest money in an account at the end of each year for six years; this account will earn 6% compounded annually. By the end of six years, he wants to have $500,000 accumulated in the account. Which of the following would be the best way for Jon to compute his required annual investment? Select answer from the options below $500,000 divided by the future value of a 6-year, 6% ordinary annuity of 1 factor. $500,000 divided by the present value of a 6-year, 6% ordinary annuity of 1 factor. $500,000 times the future value of a 6-year, 6% ordinary annuity of 1 factor. $500,000 times the present value of a 6-year, 6% ordinary annuity of 1
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