## Answers

1. Number of Periods =(48-20)*Number of Weeks =28*52 =1456

Rate per week =9%/52

FV =1,000,000

Amount to be saved each week =FV/((1+r)^n-1)/r) =1,000,000/((1+9%/52)^1456-1)/(9%/52))=151.80

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