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June 24, 2016

Homework Help: Math

Posted by Mani on Friday, April 22, 2011 at 9:14pm.

Meg's pension plan is an annuity with a guaranteed return of 9% interest per year (compounded semi-annually). She would like to retire with a pension of $70000 per semi-annum for 25 years. If she works 45 years before retiring, how much money must she and her employer deposit per semi-annum? (

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