You want to receive $250 at the end of each year for 2 years. Interest is 9.6%

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You want to receive $250 at the end of each year for 2 years. Interest is 9.6% compounded annually

(a) How much would you have to deposit at the beginning of the 2-year period?

(b) How much of what you receive will be interest?

Related Book For answer-question

Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Posted Date: Dec 13, 2023 10:32 PM

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You want to receive $250 at the end of each year for 2 years. Interest is 9.6%

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a How much would you have to deposit at the beginning of the 2year period This question can ... View the full answer

Fundamentals of Financial Accounting

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