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child’s education

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To pay for your​ child’s education, you wish to have accumulated ​13,000 at the end of 8 years. To do​ this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 15 percent compounded​ annually, how much must you deposit each year to obtain your​ goal?

The amount of money you must deposit each year in order to obtain your goal is ​$____ ​ (Round to the nearest​ cent.)

 
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