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Springfield mogul Montgomery Burns, age 8 5 , wants to retire at age 1 0 0 so he can steal candy from babies full time.
Springfield mogul Montgomery Burns, age wants to retire at age so he can steal candy from babies full time. Once MrBurns retires, he wants to withdraw $ billion at the beginning of each year for years from a special offshore account that will pay percent annually. In order to fund his retirement, MrBurns will make equal endoftheyear deposits in this same special account that will pay percent annually. How much money will MrBurns need at age and how large of an annual deposit must he make to fund this retirement account?
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