If we wish to accumulate $8,000 by the end of 4 years, how much should the annual

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If we wish to accumulate $8,000 by the end of 4 years, how much should the annual payments be if we receive an interest rate of 10% on our investments?

The first payment is made at the end of each year.

A. $2200

B. $2,000

C. $1,723.77

D. $2,200

Related Book For answer-question

Fundamentals of Financial Management

ISBN: 9780273713630

13th Revised edition

Authors: James van Horne, John Wachowicz

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Posted Date: Jan 03, 2021 08:49 AM

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If we wish to accumulate $8,000 by the end of 4 years, how much should the annual

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