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(NEED HAND WRITTEN CALCULATION) Amanda is expected to retire in 20 years and he wishes accumulate $3,000,000 in her retirement fund by that time. If

image text in transcribed(NEED HAND WRITTEN CALCULATION)

Amanda is expected to retire in 20 years and he wishes accumulate $3,000,000 in her retirement fund by that time. If the interest rate is 5% per year, how much should Amanda put into the retirement fund each year in order to achieve this goal? [Assume that the payments are made at the end of each year]

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