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A state engineer is planning the future maintenance of one of Maines toll booths. It is anticipated that the toll booth will need a major

A state engineer is planning the future maintenance of one of Maines toll booths. It is anticipated that the toll booth will need a major overhaul 10 years from now over a three- year period in the amounts indicated in the table below. The state invests their money at a 5% annual return. What equal annual deposit must be made from year 1 to year 10 to meet the future maintenance expenses shown in the following table?

Deposit Withdrawal
years 1-10 $ 95,405.49
11 $300,000
12 $400,000
13 $500,000

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