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Your friend just invested $6,000 into a fund. He believes that he will earn an annual return of 9 percent for the next 10 years.

Your friend just invested $6,000 into a fund. He believes that he will earn an annual return of 9 percent for the next 10 years. You think that you will only be able to earn an annual return of 8 percent over the same period. How much more must you invest today in order to have the same amount as your friend in 10 years?

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