39. What amount would need to be paid each January 1 if at the end of...

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39. What amount would need to be paid each January 1 if at the end of 15 years (15 payments) you desired the amount of $10,000? Annual in- terest is 5%. (Note: The last payment will coin- áde with the time of the $10,000 balance.) ( 39. What amount would need to be paid each January 1 if at the end of 15 years (15 payments) you desired the amount of $10,000? Annual in- terest is 5%. (Note: The last payment will coin- áde with the time of the $10,000 balance.) (

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As the final annual payment coincide with target maturity amount it is of ordinary annuity type That ... View the full answer