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1. please solve all the questions ASAP 2. 3. 4. 1. (compound annuity) You plan on buying some property in Florida 5 years from today.

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1. (compound annuity) You plan on buying some property in Florida 5 years from today. to do this, you estimate that you will need $50,000 at that time for purchase. you would like to accumulate these funds by making equal annual deposits in your saving account, which pays 8% annually. if you make your first deposit at the end of this year, and you would like your account to reach $50,000 when the final deposit is made, what will be the amount of your deposit? what will be the amount of your end of the year deposit?
2. (solving for r of an annuity) You lend a friend $50,000, which your friend will repay in 7 equal annual end of year payments of $12,000 with the first payment to be recieved 1 year from now. What rate of return does your loan recieve?
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