Question
Valerie has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so she has
Valerie has a large and growing collection of animated movies. She wants to replace her old television with a new LCD model, so she has started saving for it. At the end of each year, she deposits $750 in her bank account, which pays her 9% interest annually. Valerie wants to keep saving for 2 years and then buy the newest LCD model that is available. Valeries savings are an example of an annuity. How much money will Valerie have to buy a new LCD TV at the end of 2 years, rounded to the nearest whole dollar?
If Valerie deposits the money at the beginning of every year and everything else remains the same, she will save by the end of 2 years?
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