How much money would you have to deposit in the account

Reference no: EM13191332

You are investing in an account that will pay 15% interest compounded annually for the first 5 years and 6% interest compounded annually thereafter.

If you want to have $100,000 in the account at the end of the 15th year, how much money would you have to deposit in the account at the end of each year (equal annual deposits for 15 years)?

Reference no: EM13191332

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