5-14B. (SolvingfOr PMT in an annuity) To pay for your child's education, you wish to have accumulated
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5-14B. (SolvingfOr PMT in an annuity) To pay for your child's education, you wish to have accumulated
$25,000 at the end of 15 years. To do this, you plan to deposit an equal amoW1t into the bank at the end of each year. If the bank is willing to pay 7 percent compoW1ded annually, how much must you deposit each year to obtain your goal?
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Related Book For 
Financial Management Principles And Applications
ISBN: 9780131450653
10th Edition
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
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