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Suppose you are now 45 years old and you want to receive $1058030 at age 65 when you retire. To get the money at age
Suppose you are now 45 years old and you want to receive $1058030 at age 65 when you retire. To get the money at age 65, you will deposit annually in the individual retirement account which gives you interest of 9% annually. Additionally, you can deposit a lump sum of $150000 now in the account. How much should you deposit every year?
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