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Mia will retire 1 0 years from now and wants to establish a fund today that will pay $ 3 0 , 0 0 0
Mia will retire years from now and wants to establish a fund today that will pay $ cash at the end of each of the first five years after retirement. Specific dates are these: date of a single deposit by Mia, January year ; date of first cash payment from the fund to Mia, December year The fund will pay compound interest. How much cash must Mia deposit on January year to provide the five equal annual yearend cash payments from the fund?
Mia will retire years from now and wants to establish a fund today that will pay $ cash at the end of each of the first five years after retirement. Specific dates are these: date of a single deposit by Mia, January year ; date of first cash payment from the fund to Mia, December year The fund will pay compound interest. How much cash must Mia deposit on January year to provide the five equal annual yearend cash payments from the fund?
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