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Determine the annual deposit required to fund a future annual annuity of $12,000 per year. You will fund this future liability over the next five years, with the first deposit to occur one year from today. The future $12,000 liability will last for four years, with the first payment to occur seven years from today.

If you can earn 8 percent on this account, how much will you have to deposit each year over the next five years to fund the future liability?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92087998

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