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What is the amount of the annual annuity payment

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Reference no: EM132182014

Question - Sara has just graduated from college. She has determined that to purchase a home in 8 years she needs to accumulate $20,000 for a down payment. If Sara can earn 6% per year on her savings, what is the amount of the annual annuity payment that Sara must make at the end of each year for 8 years?

Reference no: EM132182014

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