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Robert Hitchcock is41years old today and he wishes to accumulate $557,000by his65thbirthday so he can retire to his summer place on Lake Hopatcong. He wishes

Robert Hitchcock is41years old today and he wishes to accumulate $557,000by his65thbirthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his41stthrough his64thbirthdays. What annual deposit must Robert make if the fund will earn12% interest compounded annually?

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