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Peter makes a deposit at the end of every three months into a savings account that earns interest at 4.8% compounded annually. He saves for
Peter makes a deposit at the end of every three months into a savings account that earns interest at 4.8% compounded annually. He saves for 13 years, and then converts his savings into an annuity that pays him $360 at the beginning of each month for 8 years at the same interest rate. What size of the deposit Peter makes while he is saving? Detail solution in financial calculator,and timeline are required.
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