How much must be deposited at the beginning of each year in an account that pays 9%,

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How much must be deposited at the beginning of each year in an account that pays 9%, compounded annually, so that the account will contain $40,000 at the end of 7 years? (Round your answer to the nearest cent.)

Related Book For answer-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: Jun 16, 2024 07:28 PM

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How much must be deposited at the beginning of each year in an account that pays 9%,

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Mathematical Applications for the Management Life and Social Sciences

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