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April 16, 2014

Homework Help: economics

Posted by Rachel on Saturday, February 5, 2011 at 2:22pm.

Suppose you wish to create a scholarship fund which will pay 73.43 each year for the next 14 years. If you accomplish your task by depositing a single amount today into a bank account which pays 12.91% per year, what must the deposit amount be? (Accuracy is at the second decimal.)

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