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Roy, who just turned 4 0 , would like to have an annual annuity of $ 2 0 , 0 0 0 paid over a
Roy, who just turned would like to have an annual annuity of $ paid over a year period, the first payment occurring on his th birthday. How much must Roy save each year end of year for the next years to have this annuity, if the investment will earn percent compounded annually?
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