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What is the annual payment that must be made if you would like to save $50,000 at the end of year 6? Assume that you
What is the annual payment that must be made if you would like to save $50,000 at the end of year 6? Assume that you are making these payments at the beginning of the year and you start with a lumpsum of $3,000. The market interest rate is 4.5%.
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