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You are to buy a property in 5 years from today. You estimate that you will need $ 72103 at that time. You would like

You are to buy a property in 5 years from today. You estimate that you will need $ 72103 at that time. You would like to accumulate these funds by making equal annual deposits in your savings account, which pays 12% annual. If you make your first deposits at the end of this year, and you would like your account to reach $72,103 when the final deposit is made, how much will you have to deposit in the account annually?

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