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It is important to solve the method with the equation 1- Starting next year, you will need $11600 annually for 4 years to complete your
It is important to solve the method with the equation
1- Starting next year, you will need $11600 annually for 4 years to complete your education. (One year from today you will withdraw the first $11600.) Your uncle deposits an amount today in a bank paying 5% annual interest, which will provide the needed $11600 payments. a) How large must the deposit be? (1.5 point) b) How much will be in the account immediately after you make the first withdrawal? (2 point)Step by Step Solution
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