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To pay for your child's education, you wish to have accumulated $19,000 at the end...

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Finance

To pay for your child's education, you wish to have accumulated $19,000 at the end of 8 years. To do this, you plan on depositing an equal amount into the bank at the end of each year. If the bank is willing to pay 13 percent compounded annually, how much must you deposit each year to reach your goal?

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