Question: Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions UseFuture Value TablesandPresent Value Tables, or your calculator, to complete the

Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions

UseFuture Value TablesandPresent Value Tables, or your calculator, to complete the requirement below.

Michelle McFeaters can earn 6%.

Required:

How much would have to be deposited in a savings account in order for Michelle to be able to make equal annual withdrawals of $200 at the end of each of 10 years? The balance at the end of the last year would be zero. Round your answer to the nearest cent

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