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You are planning to retire in 35 years. You wish to deposit a regular amount every three months until you retire, so that beginning one
You are planning to retire in 35 years. You wish to deposit a regular amount every three months until you retire, so that beginning one year following retirement you will receive quarterly payments of $10,000 for the next 20 years. How much must be deposited every three months if the annual nominal interest rate is 8%, compounded quarterly? Draw your cash flow diagram and show all work
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