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Eleanor has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so she has
Eleanor has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so she has started saving for it. At the end of each year, she deposits $1,100 in her bank account, which pays her 9% interest annually. Eleanor wants to keep saving for 6 years and then buy the newest LCD model that is available. Eleanors savings are an example of an annuity
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