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 What is the amount of annual deposits needed to have $400,000 available to purchase an apartment 8 years from 

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What is the amount of annual deposits needed to have $400,000 available to purchase an apartment 8 years from now if deposits are made starting one year from now, with a 10% interest rate? Assume the last deposit is made just before purchase at the end of the 8th year.

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Personal Financial Planning

Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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Question Details
Chapter # 11
Section: Critical Thinking Cases
Problem: 1
Posted Date: September 24, 2023 03:04:46
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