1. You have 25 years to save up for a 10,000,000. You’re willing to deposit savings each year at year-end, in an account that yields 12%, and you are willing to increase your yearly payments at a rate of 4% per year. How much must you deposit at the end of the first year to achieve this goal?

Answer rating: 100% (QA)

To calculate the first year deposit you need to make to reach your goal of 10000000 in ... View the full answer