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What is the amount of annual payment that sarah must make

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Question - Sarah just graduated from college. She plans to purchase a home in 7 years and will need $30,000 for a down payment. She starts an investment account with an initial deposit of $4500. If Sarah can earn 5% in her investment account on the initial deposit and future deposits, what is the amount of annual payment that Sarah must make at the end of each year for 7 years?

Reference no: EM131891003

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