Question: Classify the financial problem. Assume a 5% interest rate compounded annually. What annual deposit is necessary to give $10,000 in 5 years? sinking fund O

Classify the financial problem. Assume a 5% interest rate compounded annually.

Classify the financial problem. Assume a 5% interest rate compounded annually. What annual deposit is necessary to give $10,000 in 5 years? sinking fund O future value O amortization O present value O ordinary annuity Answer the question. (Round your answer to the nearest cent.) $

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