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Your family is saving to buy a beach home. To that end, your parents will deposit $5,200 at the end of each of the next
| Your family is saving to buy a beach home. To that end, your parents will deposit $5,200 at the end of each of the next 15 years into a savings account paying 11.3 percent interest. |
| a. | If your parents make deposits for 15 years, how much will they have in the savings account? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| b. | How much will they have in the savings account if they make deposits for 30 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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