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Suppose your uncle is 4 0 and has a plan to retire at age 6 0 , but his fortune teller told him that he
Suppose your uncle is and has a plan to retire at age but his fortune teller told him that he will live for forty more years. If he would like to have a steady income of $ per year after his retirement and the interest rate will be compounded yearly at that time. How much must be set aside each year till his retirement to be able to achieve his goal if the interest rate is now compounded yearly?
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