Question: 1 6 . John Jones needs ( $ 9 9 , 0 0 0 ) at the end of 8 years, and

16. John Jones needs \(\$ 99,000\) at the end of 8 years, and his only investment outlet is an 10 percent longterm certificate of deposit (compounded annually). With the certificate of deposit, he made an initial investment at the beginning of the first year. How much does John need to deposit to get the \(\$ 99,000\) at the end of 8 years. a. What amount could John pay at the end of each year annually for 8 years to achieve this same objective?
1 6 . John Jones needs \ ( \ $ 9 9 , 0 0 0 \ ) at

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