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please dont use excel Question Saidah makes 7 annual deposits of X in a bank crediting interest at an annual effective rate of 2.8%. These
please dont use excel
Question Saidah makes 7 annual deposits of X in a bank crediting interest at an annual effective rate of 2.8%. These deposits are just sufficient to permit her to make 19 annual withdrawals of $1100, first withdrawal one year after the last deposit. Determine X. Hint: Set the AV of the deposits at the time of the last deposit equal to the PV of the withdrawals. Then solve this equation for the amount of the deposit X. A time diagram would help. Possible Answers A 2106 B 2555 C 2744 D 3559 E 4318Step by Step Solution
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