You are going to put an "equal amount" of money, every year, into a saving account that earns 3% interest per year. Your goal is to accumulate $50,000 in exactly 10 years. If you make your first deposit today, how much will you need to deposit each year?

Answer rating: 100% (QA)

To calculate the equal annual deposit required to reach 50000 in 10 years with a 3 annual interest w... View the full answer