What is the annual deposit required to pay out 10,000 EUR after five years? Interest of 5

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What is the annual deposit required to pay out 10,000 EUR after five years? Interest of 5 per cent per annum is compounded annually.

Ann has given 5,000 EUR to a bank on 20 October 2003, and she wants to get the money back on 20 April 2006. What is the amount at the end if the bank has credited interest of 3 per cent p.a. compounded annually?

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Feb 22, 2024 02:15 AM

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What is the annual deposit required to pay out 10,000 EUR after five years? Interest of 5

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Principles of Finance

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