(Answered) Question - mr x wants to build a retirement fund of 500000

Accounting

Question - Mr. X wants to build a retirement fund of $500,000 by the time he is 65. He is 40 today, and he plans to make 20 equal annual deposits to the fund, the first deposit to be made today. Assuming the fund will earn 10% compounded annually, determine the equal deposits required to accumulate $500,000 in the fund by the time Mr. X is 65.

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