A person at age 30 is planning for retirement at age 60. He projects that he will

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A person at age 30 is planning for retirement at age 60. He projects that he will need $$100,000$ a year until age 80. Determine the uniform annual contribution (by him and his company) needed to provide these funds. Assume that the effective interest rate is 8%/yr and the rate of inflation is zero.

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Gauri Hendre

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