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As part of your retirement plan, you want to set up an annuity in which a regular payment of $35,000 is made at the end of each year. You need to determine how much money must be deposited earning 6% compounded annually in order to make the annuity payment for 20 years. a. $391,125.87 c. $397,502.32 b. $395,083.12 d. $401,447.24

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