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3. How much must you deposit at the end of each month for 25 years to fund an annuity of $2500 per month for 20

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3. How much must you deposit at the end of each month for 25 years to fund an annuity of $2500 per month for 20 years? The first annuity payment is made 5 years after the last deposit, and interest changes from (12)-8% to 12-7% at the time of the first annuity payment. [10 marks]

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