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How much would you need to deposit now in a savings account that earns 7% interest, compounded annually, in order to withdraw $5,300 at the

How much would you need to deposit now in a savings account that earns 7% interest, compounded annually, in order to withdraw $5,300 at the end of every year for ten years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.)

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