You would like to have $ 100,000 in 8 years. To accumulate this amount you plan to deposit each year an equal amount in
Posted: Sun May 29, 2022 4:35 pm
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?
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?