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It is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $989 each year
It is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $989 each year into a savings account. You will make a total of 10 annual deposits. If the savings account interest rate is 9%, how much money will you have at the end of year 10? (In other words, what is the future value of this annuity?) Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57 Question 7 5 pts Assume that you wish to make annual deposits into a savings account. The interest rate offered by the bank is 12%, and you plan to save for the next 5 years. If your goal is for the present value of your savings to be equal to $4,145, how much money must you deposit every year? Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
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