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Una Day is planning to retire in 1 4 years, at which time she hopes to have accumulated enough money to receive an annity of
Una Day is planning to retire in years, at which time she hopes to have accumulated enough money to receive an annity of $
a year for years of retirement. During her preretirement period she expects to earn percent annually, while during retirement she
expects to earn percent annually on her money.
What annual contributions to this retirement fund are required for Una to achieve her objective and sleep well at night? Use a
Financial calculator to arrive at the answer. Do not round intermediate calculations. Round the final answer to the nearest whole
dollar.
Annual contribution
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