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Starting next year, you will need $10,000 annually for 4 years to complete your education, I.e one year from today you will withdrew the first $10,000. Your uncle will deposit an amount today in a bank paying 5% annual interest, which will provider you needed $10,000 every year. How large must the deposit be? How much will be I. The account immediately after you make the first withdrawal and last withdrawal ?

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Financial Management, Finance

Category:- Financial Management
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