Professor dcarufel is planning to take a three-year leave, Financial Management

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Professor dcarufel is planning to take a three-year leave

Saving For Leave Of Absence. Professor dCarufel is planning to take a three-year leave of absence, with no pay, seven years from now to carry out a research project. He will need s60,000 at the beginning of each of the three years for living expenses. How much should he deposit at the end of each year for the next seven years in a savings account at 10% to finance his living expenses during his 3-year leave?

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Financial Management: Professor dcarufel is planning to take a three-year leave

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