Elin is a freshman in college. On December 3 1 , 2 , 0 1 0
Question:
Elin is a freshman in college. On December Elin's parents opened a savings account for her with an interest rate and put an equal amount of money in it every year until and including December first deposit is and last deposit is Elin's parents will not make any more contributions.
Elin deposits $ per year into the same account while in college December until and including December Immediately making that last deposit of $ on December Elin has a bank balance is $
Draw a cash flow diagram from the bank's point of view assuming Elin withdraws the entire $ balance on December immediately after making the last $ deposit
What was the magnitude of the equal, annual deposits made by Elin's parents?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill