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Linda wants to buy a mountain cabin for her retirement. Linda recently came into an inheritance of $310,000. She estimates that the cabin she wants
Linda wants to buy a mountain cabin for her retirement. Linda recently came into an inheritance of $310,000. She estimates that the cabin she wants will cost $330,000 when she retires in 7 years. Click here to view the factor table. How much of her inheritance must she invest at an annual rate of 9% (compounded annually) to buy her cabin? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g. 458,581.) Investment amount $
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