You want to accumulate $5,000 by the time you graduate four years from now for a...
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You want to accumulate $5,000 by the time you graduate four years from now for a skiing trip in the Rockies. You plan to deposit an equal amount at the end year between now and then into a savings account that earns 7% compounded annually. What must be the size of each annual deposit for you to reach your goal? You want to accumulate $5,000 by the time you graduate four years from now for a skiing trip in the Rockies. You plan to deposit an equal amount at the end year between now and then into a savings account that earns 7% compounded annually. What must be the size of each annual deposit for you to reach your goal?
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To find the size of each annual deposit needed to accumulate 5000 in four years we c... View the full answer
Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Posted Date:
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