Mr. Garcia wants to build a villa near Tilburg, the bank does not lend him money because he is unable to fulfill their credit requirements. The villa will cost €2 mln. Mr. Garcia already owns €500.000, and the interest rate is 2% annually. If he wants to be able to build the house in exactly 8 years, how much does he have to save in total at the end of each year?
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Mr. Garcia wants to build a villa near Tilburg, the bank does not lend him money because he is unabl...
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