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Natasha plans to deposit $4000 per year in her account for eachof the next 4 years. Thereafter, she expects to deposit $1500 peryear for another 4 years. All deposits are made at year-end.Interest rates are expected to be 8 percent for the next 2 years,and 11 percent thereafter. Interest is compounded annually. (a)What will Natasha's bank balance be at the end of year 8? (b) Howmuch would Natasha have to deposit as a lump sum today in order toaccumulate the same bank balance at the end of year 8?
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