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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 $12 million to retire a $12 million mortgage that matures on this date in 2030. To retire this mortgage, the company plans to annually put a fixed amount into an account. Knutson Corporation expects to earn 5.6 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 $12 million by this date 2030.(ordinary annuity)
c. Recompute if the 1st payment is made immediately. (annuity due)

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