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Samuel wishes to make two equal deposits now and 5 years from now into an account that pays interest at a rate of 4% compounded
Samuel wishes to make two equal deposits now and 5 years from now into an account that pays interest at a rate of 4% compounded annually. If the goal; is to have $12,000 in the account 12 years from now, what should each of the deposits be? Round to the nearest penny.
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