Your estimate suggests it will cost 5 0 , 0 0 0 in 1 0 years to

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Question:

Your estimate suggests it will cost

50, 000

10

years to re

-

do the surface of the parking lot. Then, how much deposit needs to be set aside each year in order to complete the task? Assume the deposit earns

5 %

interest per year

(

compounding frequency is once a year

) .

Assume the deposit is made at the beginning of each year

(

namely

,

annuity due

) .

Then how much would be the deposit made per year?

Posted Date: May 19, 2024 01:03 AM

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