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9. More on the future value of annuities Aa Aa When equal payments are made...

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Accounting

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9. More on the future value of annuities Aa Aa When equal payments are made at fixed intervals for a specified number of periods, you treat them as You are planning to put $3,500 in the bank at the end of each year for the next four years in hopes that you will have enough money for a down payment on a condo. If you are investing at an annual interest rate of 5%, you'll have at the end of four years. accumulated You decided to deposit your money in the bank at the beginning of the year instead of the end of the same year, but now you are making payments of $2,500 at an annual interest rate of 6%. How much money will you have available at the end of seven years? $13,786 $19,795 $22,244 $20,983

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