Cindy wants to deposit money for 4 consecutive years starting Cindy wants to deposit money for 4…

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Cindy wants to deposit money for 4 consecutive years starting
Cindy wants to deposit money for 4 consecutive years starting 3 years from now so she can withdraw $50,000 twelve years from now. Assume the interest rate is 8% per year. The annual deposit is closest to:
(a) $6990
(b) $7670
(c) $8530
(d) $10,490

Cindy wants to deposit money for 4 consecutive years starting