Determine the required annual deposit if the first deposit

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Reference no: EM131247498

Bullseye Bakery needs to accumulate sufficient funds to pay a $600,000 debt that comes due on December 31, 2017. The company will accumulate the funds by making four equal annual payments to an account paying 4% interest compounded annually. Determine the required annual deposit if the first deposit is made on December 31, 2014.

Reference no: EM131247498

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