Question: How much will have to be invested at the beginning of each year at 10%, compounded annually, to pay off a debt of $50,000 in

How much will have to be invested at the beginning of each year at 10%, compounded annually, to pay off a debt of $50,000 in 8 years?
(a) State whether the problem relates to an ordinary annuity or an annuity due, and then
(b) Solve the problem.

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