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What the interest concept that best describes application is

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Reference no: EM132518844

Problem 1: An amount is to be deposited in a savings account at the end of each year in order to provide funds for a trip to Europe at the end of the fourth year. You have been asked to determine the amount of the annual deposit. The interest concept that best describes this application is

Group of answer choices

Option 1: present value of an annuity.

Option 2: future value of a single amount.

Option 3: present value of a single amount.

Option 4: future value of an annuity.

Reference no: EM132518844

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