John is 25 years old and wants to have 1 million dollars in savings by...
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John is 25 years old and wants to have 1 million dollars in savings by the time he retires at 65. He plans to open a savings account that pays 6% interest compounded quarterly and he will be making $150 quarterly deposits into the account. John will need to make an initial deposit of $__________ to reach his goal of 1 million dollars in
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