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You need to accumulate 10000 To do so you plan to make deposits of 1600 per year with the first payment being made a year from today into a bank account that pays 651 annual interest Your

You need to accumulate $10,000. To do so, you plan to make deposits of $1,600 per year - with the first payment being made a year from today - into a bank account that pays 6.51% annual interest. Your last deposit will be less than $1,600 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number.
year(s)

How large will the last deposit be? Round your answer to the nearest cent.
$

 

Sep 07 2020 View more View Less

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