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Suppose you must make 5 annual $1,000 payments, the first one at the beginning of year 5 (end of the 4th year from now). To

Suppose you must make 5 annual $1,000 payments, the first one at the beginning of year 5 (end of the 4th year from now). To accumulate the money to make these payments, you will make three equal deposits into an investment account, the first to be made one year from today. Assuming a 10% interest rate on the investment account, what is the amount of these three deposits?

(round to nearest dollar)

A.

$1,098

B.

$1,145

C.

$1,260

D.

$1,389

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