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Today, You are going to sign a 5 - year contract to rent an apartment that requests an annual payment of $ 2 0 ,

Today, You are going to sign a 5-year contract to rent an apartment that requests an annual payment of $20,000 per year. The contract will be implemented early next year, so you will need to withdraw the first $20,000 one year from today. Your family plans to deposit in a bank saving account with a 10 percent interest rate ansd expect that amount to be able to satisfy a full payment schedule. The deposit will be made today?
a. How large must the deposit be?
b. How much will be in the account immediately after you make the first withdrawal? After the last withdrawal?

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