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Abbeys parents make a deposit at her birth. The bank pays interest at 3% p.a. effective. For Abbey to be able to withdraw 5 annual

Abbeys parents make a deposit at her birth. The bank pays interest at 3% p.a. effective. For Abbey to be able to withdraw 5 annual payments of $10,000 starting on her 21st birthday, how much should Abbeys parents deposit at her birth?

Select one:

a. $25,356.73

b. $24,444.11

c. $25,741.22

d. $22,636.31

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