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Corporate Finance

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Savings Annuity Cash flows

CORPFN-KB0YXH

Your parents deposit \$1,000 each year on your birthday, starting from the day you were born, in an account that pays 6% interest compounded annually.

How much will you have in the account on your 30th birthday, just after your parents made their deposit?

A

$84,802

B

$74,640

C

$79,058

D

$80,058