On December 31, 2014 Michael McDowell desires to have $60,000. He plans to make six deposits in

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On December 31, 2014 Michael McDowell desires to have $60,000. He plans to make six deposits in a fund to provide this amount. Interest is compounded annually at 12%.

Required

Compute the equal annual amounts that McDowell must deposit assuming that he makes the first deposit on

1. December 31, 2009

2. December 31, 2008

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Question Posted: Mar 10, 2012 06:03 AM

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On December 31, 2014 Michael McDowell desires to have $60,000. He plans to make six deposits in

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1 60000 60000 C 8115189 C ...View the full answer

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