To pay for your childs education, you wish to have accumulated $15,000 at the end of 15
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To pay for your child’s education, you wish to have accumulated $15,000 at the end of 15 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 6 percent compounded annually, how much must you deposit each year to obtain your goal?
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Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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