Question: Problem 6-7 Calculating Annuity Values (LO1] You plan to deposit $5,900 at the end of each of the next 20 years into an account paying
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Problem 6-7 Calculating Annuity Values (LO1] You plan to deposit $5,900 at the end of each of the next 20 years into an account paying 10.8 percent interest. a. How much will you have in your account if you make deposits for 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 40 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value of 20 deposits b. Future value of 40 deposits
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