You would like to have $ 100,000 in 8 years. To accumulate this amount you plan to deposit each year an equal amount in

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answerhappygod
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You would like to have $ 100,000 in 8 years. To accumulate this amount you plan to deposit each year an equal amount in

Post by answerhappygod »

You would like to have $ 100,000 in 8 years. To accumulate this
amount you plan to deposit each year an equal amount in the bank,
which will earn 6% interest compounded annually.
Your first payment will be made at the end of the year.
How much must you deposit annually to accumulate this
amount?
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