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Today is your 25th birthday. You plan on making bank deposits, starting today and once a year thereafter for 40 years, with the exception of

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Today is your 25th birthday. You plan on making bank deposits, starting today and once a year thereafter for 40 years, with the exception of your 30th and 35th birthdays when you plan on taking vacations (and thus you will skip making a deposit on those years only). Suppose that your savings account pays interest of 8% per year compounded annually and you want retirement savings of $2,000,000 on your 67th birthday. How much do you need to deposit each year to reach your retirement goal? Today is your 25th birthday. You plan on making bank deposits, starting today and once a year thereafter for 40 years, with the exception of your 30th and 35th birthdays when you plan on taking vacations (and thus you will skip making a deposit on those years only). Suppose that your savings account pays interest of 8% per year compounded annually and you want retirement savings of $2,000,000 on your 67th birthday. How much do you need to deposit each year to reach your retirement goal

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