Problem III: Seiler, Company needs to accumulate sufficient funds to pay a $600,000 debt that...
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Problem III: Seiler, Company needs to accumulate sufficient funds to pay a $600,000 debt that comes due on December 31, 2020 he company will accumulate the funds by making four equal annual deposits to an account paying 4% interest compounded annually. Determine the required annual deposit if the first deposit is made on December 31, 2017. Provide proof that the amount of the deposits you have calculated will create the $600,000 needed on 12/31/2020 to pay the debt
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