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Business, 11.09.2019 00:30 itsbritt8106

"you plan on saving money for retirement in 30 years (t=30) at which time, you wish to have saved $1,000,000. in order to do this, you plan on depositing $10,000 into the bank for 10 years starting next year (last $10,000 deposit at t=10). and then deposit $x every year after that until your retirement day (last deposit of $x at t=30). if the interest rate is 6% per annum, what is the $x you must deposit? "

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