How much must he deposit at the end of each year

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Reference no: EM13280180

Zheng Sen wishes to accumulate $1 million by the end of 20 years by making equal annual end - of -year deposits over the next 20 years. If Zheng Sen can earn 10 percent on his investments, how much must he deposit at the end of each year?

a. $ 17,460
b. $ 50,000
c. $ 14,900
d. $117,453

Reference no: EM13280180

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