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To pay for your child's education, you wish to have accumulated $17000 at the end of 8 years. TO do this, you plan to deposit
To pay for your child's education, you wish to have accumulated $17000 at the end of 8 years. TO do this, you plan to deposit an equal amount into 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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