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Mary Jones wants to retire in 25 years. She anticipates she will need $5,000,000 to retire. Mary has an account that currently pays 5%
Mary Jones wants to retire in 25 years. She anticipates she will need $5,000,000 to retire. Mary has an account that currently pays 5% compounded annually. If Mary has $1,200,000 in her account today how much additional money must she deposit in the account today to have $5,000,000 when she retires (use the appropriate factor table(s) to answer the question)? O $276.500 O $384,521 O $1,476,500 O $936,380 O None of the above
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