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Problem 2. (13 points] Mr. Bobcat just graduated from NYU and started working at a prestigious investment bank. He wants to start saving for his
Problem 2. (13 points] Mr. Bobcat just graduated from NYU and started working at a prestigious investment bank. He wants to start saving for his first home, and for this purpose he plans to save $200,000 in 5 years (t=5). If the interest rate is 7% per year, how much should Mr. Bobcat put into the savings each year (at the end of each year, from t=1 to t=5) in order to achieve this goal
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