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What is the amount of 5 equal annual deposits (from the end of year 1 to the end of year 5) that can be provided
What is the amount of 5 equal annual deposits (from the end of year 1 to the end of year 5) that can be provided by five annual withdrawals, of which the first is $ 1000 and is made at the end of year 6; subsequent withdrawals increase at a rate of 10% per year over the previous year, is the interest rate 10% compounded annually?
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a) $ 789
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b) $ 745
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c) $ 1000
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d) $ 1563
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