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Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now

Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now to yeild an annuity payment of

Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now to yeild an annuity payment of $800 at the END of each year, for 10 years?





PV = 800( 1 - 1.09^-10)/.09

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