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Tom wants to have $ 1 , 0 0 0 , 0 0 0 in his retirement account when he retires. While he has nothing
Tom wants to have $ in his retirement account when he retires. While he has nothing in his retirement account yet, he plans to make an equal amount of deposit into the account at the end of each year for the next years. Suppose his account earns a annual return. How much does he need to deposit annually to achieve his goal.
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