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A young couple have decided to make advance plans for financing their 3-year-old son’s college education....

A young couple have decided to make advance plans for financing their 3-year-old son’s college education. Money can be deposited at 7% compounded annually. What annual deposit on each birthday from the 4Th to the 15Th inclusive must be made to provide $30,000 on each birthday from the 18Th to the 21st inclusive? If the annual deposit is 5000, what remains in the account after the last withdrawal?

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