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How much additional money must you set aside each year

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Problem - You want to have $100,000 after eight years in order to start a business. Currently you have $26,000, which may be invested to earn 7 percent annually. How much additional money must you set aside each year if these funds also earn 7 percent in order to meet your goal of $100,000 at the end of eight years? Enter as a positive number.

Reference no: EM132978637

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