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To fund his retirement, your brother has established a trust fund that will begin paying out the year after he retires. He will retire in

To fund his retirement, your brother has established a trust fund that will begin paying out the year after he retires. He will retire in 20 years from today. The payments will be $25,000 per year, and the annual return is 4%. How much does your brother need to deposit today to fund his retirement needs?

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