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Tanja wants to establish an account that will supplement her retirement income beginning 2 5 years from now. Find the lump sum she must deposit

Tanja wants to establish an account that will supplement her retirement income beginning

25

years from now. Find the lump sum she must deposit today so that

300, 000

will be available at time of

retirement, if the interest rate is

12 %,

compounded quarterly.

How much must Tanja

invest?

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