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You plan to accumulate $271,000 over a period of 18 years by making equal annual deposits in an account that pays an annual interest rate
You plan to accumulate $271,000 over a period of 18 years by making equal annual deposits in an account that pays an annual interest rate of 11% (assume all payments will occur at the end of each year). What amount must you deposit each year to reach your goal?
$58,933.27 |
$4,844.52 |
$41,414.81 |
$5,377.42 |
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