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You need $28974 at the end of 10 years and only your investment outlet is an 8% long term certificate of deposit (compounded annually). With
You need $28974 at the end of 10 years and only your investment outlet is an 8% long term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. a. What single payment could be made at the beginning of the first year to achieve this objective? b. What amount could you pay at the end of each year annually for 10 years to achieve this same objective? PLEASE USE TI 84 CALCULATOR ALONG WITH TIMELIME. THANK YOU!!
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