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Someone plans to retire in 19 years and wants to have $1,000,000 saved up by then. They have already been depositing $5000 per year for
Someone plans to retire in 19 years and wants to have $1,000,000 saved up by then. They have already been depositing $5000 per year for the past 23 years. Interest is 5% annual effective. What annual deposit is required for each of the remaining 19 years in order to reach the goal. Assume all deposits past and future occur at the end of the year.
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