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Business, 12.02.2021 01:00 pulidoshorty

A small company wishes to set up a fund that can be used for technology purchases over the next 6 years. Their forecast is for $16,000 to be needed at the end of year 1, decreasing by $2,000 each year thereafter. The fund earns 7% per year. How much money must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal

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