How much does he need to set aside each year

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Paulo plans to buy a holiday villa in five years' time for cash. He estimates the cost will be $1.5m. He plans to set aside the same amount of funds each year for 5 years, starting immediately and earning a rate of 10% interest per annum compound. Get the instant assignment help. To the nearest $100, how much does he need to set aside each year?

Reference no: EM133926852

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