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Use the following 8% interest factors. present value of ordinary annuity future value of ordinary annuity 7 periods 5.2064 8.92280 8 periods 5.7466 10.63663 9 periods 6.2469 12.48756 korman company wishes to accumulate $1,000,000 by may 1, 2025 by making 8 equal annual deposits beginning may 1, 2017 to a fund paying 8% interest compounded annually. what is the required amount of each deposit?
a. $87,051
b. $94,016
c. $100,780
d.$174,016
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