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With an anticipated 25 years in retirement, an individual wants to spend Php 10,000,000 per year. He will make a deposit of Php 676,677 annually
With an anticipated 25 years in retirement, an individual wants to spend Php 10,000,000 per year. He will make a deposit of Php 676,677 annually at the end of each of his working years, funding this retirement account at 6% interest rate compounded annually on all investments. Calculate for the minimum number of deposits that are needed to reach his retirement goal and round your answers to the nearest whole number.
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