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QUESTION
You want to have $75,000 in your savings account 12 years form now, and you've prepared to make equal annual deposits into the account at the end of...
You want to have $75,000 in your savings account 12 years form now, and you've prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.8 percent interest, what amount must you deposit each year?
What is the amount of the annual Deposit?
