John Rider wants to accumulate $100,000 to be used for his daughter's college education. He would like
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Answer each of the following independent questions.
1. If John were to deposit a single amount, how much would he have to invest on December 31, 2011?
2. If John were to make five equal deposits on each December 31, beginning on December 31, 2012, what is the required deposit?
3. If John were to make five equal deposits on each December 31, beginning on December 31, 2011, what is the required deposit?
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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