Question: Could you please solve this an show all steps please? Suppose your sister wants to start college alter 5 years She has started accumulating money
Suppose your sister wants to start college alter 5 years She has started accumulating money by making annual deposits in her bank account beginning at the end of Year 1 . She estimates that she will have to make a payment of $5,000 at the beginning of each year through the 4 -year study program, weth the first payment to be made at the boginning of Year 6. Given a discount rate of 11%, the amount that must be deposited at the end of each year for the next 5 years to satisly the eventual payment obligations is: $2764.79 $2100.67 $281245 $2991801
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