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You are considering your retirement planning. You have just turned 35 and would like to...

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You are considering your retirement planning. You have just turned 35 and would like to have an annual sum of $25,000 paid over a 20 year period, with the first payment occurring on your 60th birthday. How much must you save at the end of each year for the next 25 years in order to have this annuity? Assume a constant interest rate of 11% throughout compounded annually. A $2,231 B. $2.631 C.$3.101 OD. $1,614 E None of the above

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