Question: Please answer in detail! Will rate! 1. Six years from today you need $10,000. You plan to deposit $1,500 annually, with the first payment to

Please answer in detail! Will rate!

1. Six years from today you need $10,000. You plan to deposit $1,500 annually, with the first payment to be made a year from today, in an account that pays 5% annual interest rate. Your last deposit, which will occur at the end of Year 6, will be less than $1,500, if less is needed to reach $10,000. How large will your last deposit be? Will you laat P

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