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A fund is of size $1 000. Deposits of $R are to be made into the fund at the beginning of each of the next

A fund is of size $1 000. Deposits of $R are to be made into the fund at the beginning of each of the next 5 years. The fund earns interest at j12 = 8% p.a. Calculate R if the fund is to be $5 000 at the end of 5 years. Answer this question by, first, drawing a cash flow diagram, then writing down the equation of value, and then solving it

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