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How much should you deposit at the end of each year

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Question - You would like to accumulate $10,000 by the end of three years from now to buy a sports car. You have $2,500 now and would like to save equal annual end-of-year deposits to pay for the car. How much should you deposit at the end of each year in an account paying eight percent interest to buy the car?

Reference no: EM132989308

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