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6. You want to have $80,000 in your savings account 10 years from now, and you're prepared to make equal annual deposits into the account

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6. You want to have $80,000 in your savings account 10 years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.5% interest per year, what amount must you deposit each year? (4 Marks) 7. A six-year lease requires payment of $1059.00 at the beginning of every three months. If money is worth 5 percent compounded monthly, what is the cash value of the lease? 8. You are planning to make monthly deposits of $250 into a retirement account that pays 10% interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 30 years? (6 Marks)

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