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How much must Charlie save annually

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Question - Charlie wants to retire in 30 years abd he wants to have an annuity of $1000 a year for 20 years after retirement. Charlie wants to receive the first annuity payment at the end of the 31st year. Using an interest rate of 10%, how much must Charlie save annually during year end in order to have his retirement annuity 30 years from now?

Reference no: EM132785645

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