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Jill, a recent industrial engineering graduate from Tech, would like to put the geometric series to work. She would like to have a $1M accumulated at the time of retirement 30 years from now. If the annual increase is 5% and if the interest rate is 12%, determine the very first deposit she should make at the end of year 1.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M939485

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