Arnie agrees to contribute ($ 2,500) to the road fund at the end of each year for
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Arnie agrees to contribute \(\$ 2,500\) to the road fund at the end of each year for the next 10 years. Jack wants to match Arnie's contribution, but he wants to make a lump-sum contribution today. If the current interest rate is \(1.5 \%\) compounded annually, how much should Jack deposit to equal Arnie's annual deposits?
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