Assume that you need to have $ 25,000 in four years. How much must you invest at

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Assume that you need to have $ 25,000 in four years. How much must you invest at the end of each year to reach your goal? You will earn 8% interest, compounded annually. Draw a timeline to illustrate the problem.

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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Question Posted: Nov 24, 2015 04:38 AM

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Assume that you need to have $ 25,000 in four years. How much must you invest at

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This is considered an ordinary annuity because you invest at the end o...View the full answer

Intermediate Accounting

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