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On the day a baby was born his father decided to establish a fund for his college education by depositing a certain amount on each of his birthdays from the first through the 16th so that he can withdraw $2,000 on his 18th, 19th 20th and 21st birthday. If the fund earns 10% per year how much must the annual deposit be?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9991641

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