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Q.No.3 You need to have $100,000 at the end of 20 years. To accumulate this sum, you have decided to save a certain amount at

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Q.No.3 You need to have $100,000 at the end of 20 years. To accumulate this sum, you have decided to save a certain amount at the end of each of the next 20 years and deposit it in the bank. The bank pays 10 percent interest compounded annually for long-term deposits. How much will you have to save each year (to the nearest dollar)

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