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(Solving for PMT in an Annuity) To pay for your childs education, you wish to have accumulated $25,000 at the end of 15 years. To

(Solving for PMT in an Annuity) To pay for your childs education, you wish to have accumulated $25,000 at the end of 15 years. To do this, you plan on depositing an equal amount in the bank at the end of each year. If the bank is willing to pay 7% compounded annually, how much must you deposit each year to obtain your goal?

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