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Question: A person was able to invest $5,000 a year at the end of years 1 through 12 in an account which paid 7% interest compounded annually. The person now plans to retire at the end of Year 30 and expects to need $25,000 a year at the ends if Year 31 through 50. What additional uniform deposit at the end of years 25 through 29 at 7% interest would be required in order to permit the expected retirement withdrawals?

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Category:- Basic Finance
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