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Suppose that you earned abachelor's degree and nowyou're teaching high school. The school district offers teachers the opportunity to take a year off to earn
Suppose that you earned abachelor's degree and nowyou're teaching high school. The school district offers teachers the opportunity to take a year off to earn amaster's degreee. To achieve thisgoal, you deposit $4000 at the end of each year in an annuity that pays 7% compounded annually.
a.
How much will you have saved at the end of fiveyears?
b.
Find the interest.
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