Question: You need to accumulate $10,000. To do so, you plan to make deposits of $1,200 per year - wich the first payment being made a
You need to accumulate $10,000. To do so, you plan to make deposits of $1,200 per year - wich the first payment being made a year from today - into a bank account that pays 6% annual interest. Your last deposit will be less than $1,200 if less is needed to round our to $10,000. How many years wilf it take you to reach your $10,000 goal? Do not round intermed ate calculations. Round your answer up to the nearest whole number. year(s) How large will the last deposit be? Do not round intermediate calculations. Round your antwer to the nearest cent. 5
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