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You have 25 years to save up for a 10,000,000. Youre willing to deposit savings each year at year-end, in an account that yields 12%,
- You have 25 years to save up for a 10,000,000. You’re willing to deposit savings each year at year-end, in an account that yields 12%, and you are willing to increase your yearly payments at a rate of 4% per year. How much must you deposit at the end of the first year to achieve this goal?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
