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How much will have to deposit now to meet goal

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Question 1: You wish to put away enough money from your lottery winnings so that you can withdraw $25,000 at the end of each quarter for the next 40 years. You can earn 10% rate on any funds you deposit. How much will you have to deposit now to meet your goal? (Note: Compounding matches the withdrawal frequency.)

Reference no: EM132591945

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