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Tim decide to set up a retirement fund. The account earns 7% effective annual interest, and expect a total of 3/4 million dollars in the
Tim decide to set up a retirement fund. The account earns 7% effective annual interest, and expect a total of 3/4 million dollars in the account when he retires. He wants to receive n yearly payments, starting at $50,000, and increasing every year by 3% to account for inflation. Calculate n.
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