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problem: You will retire in 25 years & want to have amassed 1 million dollar ($) in savings at the time you retire. Suppose you can earn a 6% yearly return per year for the next 25 years. Also suppose that you will be making equal yearly contributions to this retirement fund [Starting one year from today]. What yearly contribution will be required if you are to achieve your goal?

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Cost Accounting, Accounting

Category:- Cost Accounting
Reference No.:- M922899

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