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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

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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 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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