What was the amount of the deposit at the end of year five

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Reference no: EM131460433

Calculating deposit needed You put $8,000 in an account earning 4%. After 5 years, you make another deposit into the same account, Four years later (that is, 9 years after your original $8,000 deposit), the account balance is $24,000. What was the amount of the deposit at the end of year 5?

The amount of the deposit at the end of year 5 is $ (Round to the nearest cent.)

Reference no: EM131460433

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