Question

Christine wants to make regular annual payments of size P kina into an annuity that pays

interest of an annual rate of 0.25 or 25%. He wants to have 1.5 times the invested amount
in the account after 5 years.
A) Determine the size, P of the required annual payment.
B) Create a table and do a step by step calculation to verify your answer in part A

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Answer 1

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