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5. Your lease payment has just increased by $2,000 per year (payable at the end of the year). You make it a point to have
5. Your lease payment has just increased by $2,000 per year (payable at the end of the year). You make it a point to have set aside in an account enough money to pay for the next five years of payments. The account returns 4% annually. How much should be added to the account to assure that the lease payments for the next five years are paid?
Please use excel PV FV N I PMT
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