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Myles firm aims to accumulate R 7 8 0 0 0 0 to fund the purchase of new equipment seven years from today. The strategy
Myles firm aims to accumulate R to fund the purchase of new equipment seven years from today. The strategy involves depositing a consistent amount of money on the first day of each year, starting from today. Given that the firm can achieve a rate of return. How much must the firm save annually to reach its target?
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