Question: Please show all work and if done in excel please show formulas. Thank you. Six years from today you need $10,000. You plan to deposit

Please show all work and if done in excel please show formulas. Thank you.

Please show all work and if done in excel please show formulas.

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 a 5% effective annual rate. Your last deposit, which will occur at the end of Year 6, will be for less than $1, 500 if less is needed to reach $10,000. How large will your last payment be

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