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Knutson Corporation needs to save $ 1 2 million to retire a $ 1 2 million mortgage that matures on this date in 2 0
Knutson Corporation needs to save $ million to retire a $ million mortgage that matures on this date in To retire this mortgage, the company plans to annually put a fixed amount into an account. Knutson Corporation expects to earn percent annually on the money in this account.
a How many annual payments will be made?
b Find the equal annual contribution to accumulate the $ million by this date ordinary annuity
c Recompute if the st payment is made immediately. annuity due
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