How much should be invested each year for 10 years to provide you with $8000 per year for the next

How much should be invested each year for 10 years to provide you with $8000 per year for the next

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How much should be invested each year for 10 years to provide you with $8000 per year for the next 35 years? Assume a 5.5% interest rate. (Round your final answer to two decimal places.)

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SOLUTION This problem involves calculating the present value of an annuity which is the amount that
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