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You wish to have $250,000 in your investment account in ten years' time. You plant to increase your investment contribution each year by 5% compared
You wish to have $250,000 in your investment account in ten years' time. You plant to increase your investment contribution each year by 5% compared to the previous year. You will make ten contributions to the investment account, starting at the beginning of the first year and ending at the start of the tenth year. If the investment return is 6.5% pa, how much should you invest each year? Show the investment account transaction records to demonstrate that your answer is correct Note: This problem should be solved algebraically
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