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Peter wishes to create a retirement fund from which he can

Question: Peter wishes to create a retirement fund from which he can draw $20,000 when he retires and the same amount at each anniversary of his retirement for 10 years. He plans to retire 20 years from now. What investment need he make today if he can get a return of 5% per year, compounded annually?

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Mathematics: Peter wishes to create a retirement fund from which he can

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