Question: 2 points To help you reach a $ 2 5 , 0 0 0 goal 1 0 years from now, your aunt offers to give

2 points
To help you reach a $25,000 goal 10 years from now, your aunt offers to give you $2,000 now. You plan to get. a part-time job and make 10 additional deposits, one
each year. (The first deposit is made at the end of the first year.) If all your money is deposited in a bank that pays 6% interest, how large must your annual deposit
round your answer to the nearest cent and omit the dollar sign (nnumbers only).
Type your answer...
 2 points To help you reach a $25,000 goal 10 years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!