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Kim is a first - year student in college. On December 3 1 , 2 0 0 5 , Kim's parents opened a savings account
Kim is a firstyear student in college. On
December Kim's parents opened a
savings account for her with an interest
rate and put an equal amount of money in it
every year until and including December
first deposit is and
last deposit is Kim's parents
do not make any more contributions.
Kim deposits $ per year into the same
account while in college December
until and including December
Immediately after making that last deposit of
$ on December Kim has a
bank balance is $
Draw a cash flow diagram from the
bank's point of view assuming Kim
withdraws the entire $
balance on December
immediately after making the last
$ deposit
What was the magnitude of the equal,
annual deposits made by Kim's
parents?
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