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( Compound annuity ) You plan on buying some property in Florida 5 5 years from today. To do this, you estimate that you will
Compound annuity You plan on buying some property in Florida years from today. To do this, you estimate that you will need $ at that time for the purchase. You would like to accumulate these funds by making equal annual deposits in your savings account, which pays percent annually. If you make your first deposit at the end of this year, and you would like your account to reach $ when the final deposit is made, what will be the amount of your deposits? Question The amount of your endofyear deposits will be $Round to the nearest cent.
Compound annuity You plan on buying some property in Florida years from today. To do this, you estimate that you will need $ at that time for the purchase. You would like to accumulate these funds by making equal annual deposits in your savings account, which pays percent annually. If you make your first deposit at the end of this year, and you would like your account to reach $ when the final deposit is made, what will be the amount of your deposits?
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The amount of your endofyear deposits will be $Round to the nearest cent.
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