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Mathematics, 02.02.2021 23:20 jtbrown0093

As part of your retirement plan, you want to set up an annuity in which a regular payment of $25,312 is made at the end of each year. You need to determine how much money must be deposited earning 6.2% compounded yearly in order to make the annuity payment for 20 years. a.
$2,242.78
c.
$285,671.10
b.
$506,240
d.
$537,626.90

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