Anne wants to accumulate $100 000 at the end of 20 years. She deposits $1000 at...

 

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Anne wants to accumulate $100 000 at the end of 20 years. She deposits $1000 at the end of each of the first 10 years, and $1000+ X at the end of each of the second 10 years. Interest is at ji = 10%. (a) Find X. (b) If the last four payments of $1000 were missed, what would be the value of X? Anne wants to accumulate $100 000 at the end of 20 years. She deposits $1000 at the end of each of the first 10 years, and $1000+ X at the end of each of the second 10 years. Interest is at ji = 10%. (a) Find X. (b) If the last four payments of $1000 were missed, what would be the value of X?

Answer rating: 100% (QA)

a X 254643 b X 283522 Stepbystep explanation a Future value of annuity of 1000 for ... View the full answer