The answer must include PAINFG and the cash flow diagrams.

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If Mary wants to have $1.5 million in her IRA in 30 years and she is able to invest in the stock market at its historical rate of return of 7%/yr. How much will her annual contribution be?

[ P= Present value A = Annuity (or uniform payments, but not necessary annually) i = Effective interest rate n = Number of payments F = Future value G = Gradient (constant increase each year) ]