Question: On Juans twenty-sixth birthday, he invested $7,500 in a retirement account. Each year thereafter, he deposited 8 percent more than the previous deposit. The account

On Juan’s twenty-sixth birthday, he invested $7,500 in a retirement account. Each year thereafter, he deposited 8 percent more than the previous deposit. The account paid annual compound interest of 5 percent. If Juan decided to wait 8 years before investing for retirement, how much would he have to invest at that time to have the same account balance on his sixtieth birthday?

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