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How much does sam needs to save each year

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Problem 1: Sam plans to save RM75,000 for his wedding that he has fixed 6 years from now. He plans to set aside an equal amount of money on the first day of each year starting today. The expected rate of return on his savings is 7 percent per annum. How much does Sam needs to save each year to achieve his goal?

Reference no: EM132760179

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