Maria is 40 years old today and she wishes to accumulate $1,840,000 by her sixty-fifth...
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Accounting
Maria is 40 years old today and she wishes to accumulate $1,840,000 by her sixty-fifth birthday so she can retire to a beach in Florida. She wishes to accumulate this amount by making equal deposits on her fortieth through her sixty-fourth birthdays.
Compute the annual deposit Maria must make if the fund will earn 4% interest compounded annually.
Annual deposit $_______________
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