The first deposit will be made one year from today, and the last deposit will...
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The first deposit will be made one year from today, and the last deposit will be made on the day she retires. Her first withdrawal will not occur until one year after she retires, and she plans to spend her entire nest egg. Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump-sum deposit today to cover her retirement needs. She plans to spend what she has saved today on a new car. Calculate the amount she must deposit today to reach her retirement goal. (Enter a positive value and round to 2 decimals)
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The first deposit will be made one year from today, and the last deposit will be made on the day she retires. Her first withdrawal will not occur until one year after she retires, and she plans to spend her entire nest egg. Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump-sum deposit today to cover her retirement needs. She plans to spend what she has saved today on a new car. Calculate the amount she must deposit today to reach her retirement goal. (Enter a positive value and round to 2 decimals) 