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Robert hitchcock is 41 years old today and he wishes to

Question - Robert Hitchcock is 41 years old today and he wishes to accumulate $557,000 by his 65th birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 41st through his 64th birthdays. What annual deposit must Robert make if the fund will earn 12% interest compounded annually?

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Accounting Basics: Robert hitchcock is 41 years old today and he wishes to

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