Suppose that you earned a bachelor's degree and now you're teaching high school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you deposit $ 4000 at the end of each year in an annuity that pays 5 % compounded annually.a.How much will you have saved at the end of five years?b.Find the interest.LOADING... Click the icon to view some finance formulas....Question content area rightPart 1a. After 5 years, you will have approximately $
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(Do not round until the final answer. Then round to the nearest dollar as needed.)
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