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Maxwell will receive ( $ 1,252.28 ) every year for the next 5 years. To enable him to receive this amount his dad has deposited

Maxwell will receive $ \$ 1,252.28 $ every year for the next 5 years. To enable him to receive this amount his dad has deposited $ \$ 5,000 $ in an account earning $ 8 \% $ interest per annum. W image text in transcribed

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