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please see attached. Thank you greatly in advance. A company wants to accumulate a sum of money to repay certain debts due in the future.
please see attached. Thank you greatly in advance.
A company wants to accumulate a sum of money to repay certain debts due in the future. The company will make annual deposits of $120,000 into a special bank account at the end of each of 10 years. Assuming the bank account pays 6% interest compounded annually, what will be the fund balance after the last payment is made in ten years? Note: Round your final answers to nearest whole dollar amountStep by Step Solution
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