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Please show the steps, I tried different ways but turly have no idea how to get the right answer 89. Leo will make an initial
Please show the steps, I tried different ways but turly have no idea how to get the right answer
89. Leo will make an initial deposit into an account of $1,000 at timet0, followed by five annual deposits of 200 at timest1,2, 3,4,5. Leo will receive payments from the account at times t7,8,9, starting with $1,500 and decreasing by SQ per year. The balance in the account after the last payment is S0. You may assume that this account earns an effective annual interest rate of 7%. Determine Q. Answer: 590.83Step by Step Solution
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