An investor wishes to accumulate 10,000$ @ the end 10 years by making level deposits at the
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An investor wishes to accumulate 10,000$ @ the end 10 years by making level deposits at the beginning of each year. The deposits earn 12% annual effective rate of interest paid at the end of each year. The interest is reinvested at an annual effective interest of 8%. Calculate the level deposits.
Related Book For
Business Statistics in Practice
ISBN: 978-0077404741
6th edition
Authors: Bruce Bowerman, Richard O'Connell
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