Matt plans to make 35 equal yearly deposits into his retirement account starting one year from now
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Question:
Matt plans to make 35 equal yearly deposits into his retirement account starting one year from now (t=1). Starting at t=36, he will make 20 equal withdrawals of $150,000 each year from this account. The interest rate is 7% p.a. How much must Matt deposit each year to satisfy his retirement needs?
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