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{Future value of an ordinary annuity)

/in /by

&{Related to Checkpoint 6.1} [Annuity payments) Lisa Simpson wants to have $1,000,000 in 45 years by making equal annual endrofrtheiyear deposits into a
taxadeferred account paying 10.50 percent annually. What must Lisa’s annual deposit be? The amount of Lisa’s annual deposit must be 5% _ (Round to the nearest cent.)

 
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