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Today is your best friends 30th birthday and she is planning to start saving for...

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Finance

Today is your best friends 30th birthday and she is planning to start saving for her anticipated retirement at age 60. She would like to be able to withdraw $100,000 from her savings account on each birthday for at least 20 years following her retirement (the first withdrawal will be on her 61th birthday). Assume r=4%.

how much should she deposit in the savings acc every year?

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