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You would like to have $8,000.00 in 6 years for a special vacation following graduation by making deposits at the end of each year in
You would like to have $8,000.00 in 6 years for a special vacation following graduation by making deposits at the end of each year in an annuity that pays 7.2% compounded annually. How much money should you deposit at the end of every year? Do not round until the final answer, and then round up to the next penny.) How much of the $8,000.00 comes from deposits and how much comes from interest? $ of the $8,000.00 comes from your deposits and $ comes from interest.
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