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A person wishes to accumulate $ 2 , 5 0 0 . 0 0 over a period of 1 5 years so that a cash

A person wishes to accumulate $2,500.00 over a period of 15 years so that a cash payment can be made for a new roof on a summer cottage. To have this amount when it is needed, annual payments will be made into a savings account that earns 8% interest per year. How much must each annual payment be? Draw a cash flow diagram for this also.
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