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(Annuity Payments:) To pay for your child's education, you wish to have accumulated $17,000 at...

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Finance

(Annuity Payments:) To pay for your child's education, you wish to have accumulated $17,000 at the end of 10 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 14% compounded annually, how much must you deposit each year to obtain your goal?

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