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Business, 13.10.2020 04:01 cowikta

A. If you will be making equal deposits into a retirement account for 20 years (with each payment at the end of the year), how much must you deposit each year if the account earns 8% compounded annually and you wish the account to grow to $5,000,000 after 40 years (in time 40)? b. How does your answer to part (a) change if the account pays interest compounded monthly at an annual rate of 8%?

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