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7. Calculating deposit needed You put $7,000 in an account earning 7%. After 4 years, you make another deposit into the same account. Three years
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Calculating deposit needed You put $7,000 in an account earning 7%. After 4 years, you make another deposit into the same account. Three years later (that is, 7 years after your original $7,000 deposit), the account balance is $25,000. What was the amount of the deposit at the end of year 4 ? The amount of the deposit at the end of year 4 is $ (Round to the nearest cent.)Step by Step Solution
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