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Suppose you will invest $3,000 two years from today and you need $50,000 in 10 years from today. If you can make deposits of $5,000at
Suppose you will invest $3,000 two years from today and you need $50,000 in 10 years from today. If you can make deposits of $5,000at the end of each year, what interest rate would you need to earn each year to reach your goal? Your first $5,000 savings payment is at the end of year 3.
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