At the end of five years, you will receive $15,000 and deposit this in the bank toward
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Question:
At the end of five years, you will receive $15,000 and deposit this in the bank toward your goal of
$59,000 at the end of year 12. In addition to the lump-sum deposit, how much must you deposit in equal annual amounts, beginning in year 1 to reach your goal?
Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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