Question: Will would like to set up a fund that will provide 8 annual payments so that each successive payment increases by 6%. Determine the amount

Will would like to set up a fund that will provide

Will would like to set up a fund that will provide 8 annual payments so that each successive payment increases by 6%. Determine the amount he must deposit into the fund today if the first annual payment (in one year from now) is $3000 and the fund earns interest at: (a) j1=4% Answer: $ (b) j1=11.2% Answer: \$

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