Find the amount of the deposits that will be needed

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Reference no: EM132706172

Problem 1: Ismail Berhad wants to make five equal annual savings account deposits from June 1, 2020, to be able to withdraw RM 75,000 at six annual intervals beginning June 1, 2025. The deposit with Maybank will earn 8% per annum until the account is exhausted. The controller asks you to compute the amount of the deposits that will be needed in each year.

Reference no: EM132706172

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