Question: Please answer part B. Problem 4-26 Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,950
Please answer part B.
Problem 4-26 Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,950 per year-with the first payment being made a year from today-into a bank account that pays 8.05% annual interest. Your last deposit will be less than S1,950 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number s year(s) How large will the last deposit be? Round your answer to the nearest cent
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