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Wile E. Coyote wants to have $5,000,000 at the end of ten years to be able to afford the new ACME Rocket. Mr. Coyote intends

Wile E. Coyote wants to have $5,000,000 at the end of ten years to be able to afford the new ACME Rocket. Mr. Coyote intends to invest today $50,000 and then deposit a yearly amount that will increase with the inflation (assume 3% inflation). The interest rate ACME bank is offering is 5.25% per year compounded yearly. What is the yearly amount that Mr. Coyote needs to deposit to have $5,000,000 at the end of 10 years?

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