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3.19 If you desire to withdraw the amounts given in Table P3.19 over the next five years from a savings account that earns 8% interest
3.19 If you desire to withdraw the amounts given in Table P3.19 over the next five years from a savings account that earns 8% interest compounded annually, how much do you need to deposit now? TABLE P3.19 N 2. 3 Amount $13,000 25,000 4 38,000 5 46,000 3.38 An individual deposits an annual bonus into a savings account that pays 5% interest compounded annually. The size of the bonus increases by $6,000 each year, and the initial bonus amount was $30,000. Determine how much will be in the account immedi- ately after the fifth deposit
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