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Mary Williams would like to have an annual annuity of $40,000 for 20 years when she retires in 25 years . How much will Mary

Mary Williams would like to have an annual annuity of $40,000 for 20 years when she retires in 25 years . How much will Mary need to invest at the end of each year to achieve her goal ? Assume an 8 percent rate of return. Show solutions in Excel please.

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