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. Saudi Electricity Company ( SEC ) employee wants to accumulate 5 0 0 , 0 0 0 SAR in 1 5 years for retirement.

.

Saudi Electricity Company

(

SEC

)

employee wants to accumulate

500, 000

SAR in

15

years for retirement. How much should they invest annually in a fund that earns

8 %

interest, compounded annually, to reach their goal?

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