ABC Company has contracted to make the following payments: $10 000 immediately; $1000 at the end of year 1; $1500 at the end of year 2; $2000 at the end of year 3; $2500 at the end of year 4; $3000 at the end of year 5. What fixed amount of money should the company plan to set aside each year, at 8% interest per year, compounded

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A:

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