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You are planning to retire in 20 years in Hawaii. You are quoted by a bank for an annuity at a rate of 5% per

You are planning to retire in 20 years in Hawaii. You are quoted by a bank for an annuity at a rate of 5% per year. a) How much will need to deposit at the end of each for the next 20 year at that 5% rate such that you will accumulate a retirement nest of $1,000,000? (3 pts) # of years= 20 interest rate (APR)= 5% target retirement nest= $1,000,000.00

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