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Harold wants to accumulate $43,000.00 in savings to be available to him in 7 years, starting from nothing. He will make the first contribution in 1 year and then make an equal contribution at the end of each of the next 6 years. He can achieve a rate of return of 8.4%. How much will he have to contribute each year? What if the rate of return were 4.8%?

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Financial Management, Finance

Category:- Financial Management
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