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payment will be made at the end of the year. a. How much must you deposit annually to accumulate this amount? b. If you decide

payment will be made at the end of the year. a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should this lump-sum deposit be? (Assume you can earn 8 percent on this deposit.) goal? (Again assume you can earn 8 percent on this deposit.)

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