Deposited into this guaranteed account to fully fund

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Reference no: EM131835083

Suppose you are the executor of your Aunt's estate, and she desires to provide her daughter with $17,000 at the end of each year for the next 34 years. If the bank provides a guaranteed account which earns 5.8% per year simple interest, how much money should be deposited into this guaranteed account to fully fund this request? (Answer to the nearest dollar)

Reference no: EM131835083

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