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Padayappa has now retired after 40 years of employment. He just made an annual deposit to his investment portfolio and realized he has $1,950,000 (not
Padayappa has now retired after 40 years of employment. He just made an annual deposit to his investment portfolio and realized he has $1,950,000 (not counting home, cars, furniture, etc.). His money has been earning 7 percent per year, and inflation has been running 4 percent per year over the past 40 years. Part a What equal amount of money did he put into his investment at the end of each year? \$
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