State the Type and Answer the Question

question 27

Short Answer

State the type and answer the question. What annual deposit is necessary to have $15,000 in 6 years if all the money is deposited at 9% interest compounded annually?
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Please round the answer to the nearest cent.
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The type is __________ (present value, future value, sinking fund); annual deposit equals $__________.

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Definitions:

Unethical Behavior

Actions that go against moral principles and professional standards, often causing harm or conflict.

Crisis Management

The process by which an organization deals with a disruptive and unexpected event that threatens to harm the organization or its stakeholders.

Unethical

Actions or behavior that do not conform to accepted standards of morality or professional conduct.

Illegal

Illegal refers to actions or activities that are forbidden by law and subject to legal penalties.