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A man is planning to retire in 25 years. He wishes to deposit a regular amount...

A man is planning to retire in 25 years. He wishes to deposit a regular amount every three months until he retires so that beginning one year following his retirement (i.e., year 26), he will receive annual payments of SR50,000 for the next 10 years. How much must he deposit if the interest rate is 9% compounded quarterly?

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