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Suppose that the parents of a young child decide to make annual deposits into a saving accounts, with the first deposit being made on the

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Suppose that the parents of a young child decide to make annual deposits into a saving accounts, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 18^th birthday. The parents would like to have $50,000 in the bank in order for their child to pay for the first two years of college. If the effective annual interest rate is 5% during this period of time, what are the annual deposits in years 5 to 18? Draw the proper diagram for this cash flow. State the equations necessary to solve this problem. Solve the

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