Question: To accumulate $200,000 after 20 years, what amount must be invested each year if the investment earns 9% compounded annually and the contributions are made:

To accumulate $200,000 after 20 years, what amount must be invested each year if the investment earns 9% compounded annually and the contributions are made:
a. At the beginning of each year?
b. At the end of each year?

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