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Bella Donna Company needs to accumulate sufficient funds to pay a $351,000 debt that comes due on December 31, 2022. The company will accumulate the

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Bella Donna Company needs to accumulate sufficient funds to pay a $351,000 debt that comes due on December 31, 2022. The company will accumulate the funds by making five equal annual deposits to an account paying 6% interest compounded annually. Determine the required annual deposit if the first deposit is made on December 31, 2017 Use the following chart only to determine your answer Interest rate FV PV FVA PVA FVAD PVAD Future value of Present value Future value of Present value future value of Present value $1 of $1 an ordinary of an ordinary an annuity due of an annuity annuity annuity due 5% 1.27628 .78353 5.5256 4.329948 5.8019 4.54595 6% 1.33823 .74726 5.6371 4.21236 5.9753 4.46511 7% 1.40255 71299 5.7507 4.10020 6.1533 4.38721 1.46933 68058 5.8666 3.99271 6.3350 4.31213 8%

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