Anna wants to deposit money now on her bank savings account when starting college, so...
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Anna wants to deposit money now on her bank savings account when starting college, so that she can have four equal annual withdrawals of $5,000 before running out of money on the account. The bank pays an interest rate of 2% compounded annually. Anna will be withdrawing money every year starting one year from when she makes the deposit. How much money does she need to deposit?
Anna wants to deposit money now on her bank savings account when starting college, so that she can have four equal annual withdrawals of $5,000 before running out of money on the account. The bank pays an interest rate of 2% compounded annually. Anna will be withdrawing money every year starting one year from when she makes the deposit. How much money does she need to deposit? 26,020 O 23,565 20,610 19,040 None of the above
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