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You want to receive $700 at the end of each year for 4 years. Interest is 7.5% compounded annually. (a) How much would you have

You want to receive $700 at the end of each year for 4 years. Interest is 7.5% compounded annually.

(a) How much would you have to deposit at the beginning of the 4-year period?

(b) How much of what you receive will beinterest? the interest is ?

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