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19 M/C 0/2 b Q: Lorraine has decided to make equal annual deposits in an account earning 5% compounded annually for 10 years beginning today.

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19 M/C 0/2 b Q: Lorraine has decided to make equal annual deposits in an account earning 5% compounded annually for 10 years beginning today. She then stops making deposits and waits 5 years till she retires, during which time the account continues to earn interest, before withdrawing $4,400 at the end of each year for 10 years. What was the amount she deposited each year? Description: TVM A: $2,222.30 B: $2,116.48 C: $2,333.41

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