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It is now January 1, 2019. Suppose one deposit three equal payments into ones account on January 1 of 2020, 2021,

and 2022. Assuming an 8% interest rate, how large must ones payments be to have the same ending balance as in #1


(#1)


It is now January 1, 2019. Today you will deposit $1,000 into a savings account that pays 8%.

If the bank compounds interest annually, how much will you have in your account on January 1, 2022?

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The payments must be... View the full answer

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