You need to accumulate $ 10,000. To do so, you plan to make deposit of $ 1250 per year, with the first payment being mad
Posted: Thu May 19, 2022 11:19 am
- You Need To Accumulate 10 000 To Do So You Plan To Make Deposit Of 1250 Per Year With The First Payment Being Mad 1 (159.71 KiB) Viewed 69 times
You need to accumulate $ 10,000. To do so, you plan to make deposit of $ 1250 per year, with the first payment being made a year from today, in a bank account that pays 12 percent interest, compounded annually. Your last deposit will be less than $ 1250 less needed to round out to $ 10,000. How many years will it take you to reach your $ 10,000 goal and how large will the last deposit be? (5+5)