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Susan Robinson is planning for her retirement. She is 39 years old today and would like to have $700,000 when she turns S5. She estimates

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Susan Robinson is planning for her retirement. She is 39 years old today and would like to have $700,000 when she turns S5. She estimates that she will be able to earn a 9 percent rate of return on her retirement investments over time; she wants to set aside a constant amount of money every year (at the end of the year) to help achieve her objective. How much ) money must Robinson invest at the end of each of the next 16 years to realize hor goal of $700,000 at the end of that time? Use Table IIt or a financial calculator to answer the question. Round your answer to the nearest cent. 5

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