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Problem 2 (20 points) You want to save $500,000 for retirement. You plan to make annual deposits at the beginning of each year into an
Problem 2 (20 points) You want to save $500,000 for retirement. You plan to make annual deposits at the beginning of each year into an account that earns an annual effective rate of 10%. You will increase the amount of your deposit each year by 5%. If you plan to retire in 30 years, what should be the amount of your first deposit
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