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Eleanor plans to make five equal annual deposits in a fund beginning June 1 , Year 1 , in order to be able to withdraw

Eleanor plans to make five equal annual deposits in a fund beginning June 1, Year 1, in order to be able to withdraw $50,000 at six annual intervals beginning June 1, Year 6. The amount on deposit will earn interest at 12% annually until the fund is exhausted. Compute the equal deposits that should be made to the fund.

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