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Ethel Simms just turned 45 years old today. By her 60th birthday, Ethel wants to...

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Accounting

Ethel Simms just turned 45 years old today. By her 60th birthday, Ethel wants to accumulate $650,000 in her fund. She would like to make equal deposits from her 45th to her 59th birthday. If the fund will earn 11% interest compounded annually, what amount must Ethel deposit each year?

$________________________

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