Ronan wants to have a set amount of 300,000 saved in 10 years time. He plans to
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Question:
Ronan wants to have a set amount of €300,000 saved in 10 years time. He plans to do this by making equal annual payments into a savings account, starting in one year's time. The interest rate he can earn on the savings account is 5% per annum.
Calculate the annual payment amount that Ronan must make to reach his savings goal (to the nearest euro).
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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