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Business, 16.03.2020 17:32 ellamai10123

You plan on buying some property in Florida 5 years from today. To do this, you estimate that you will need $20 comma 000 at that time for the purchase. You would like to accumulate these funds by making equal annual deposits in your savings account, which pays 12 percent annually. If you make your first deposit at the end of this year, and you would like your account to reach $20 comma 000 when the final deposit is made, what will be the amount of your deposits?

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