You plan to buy a property five years from today You estimate you will need save $100,000 for a deposit. To achieve this target you would like to plan to direct equal annual payments into your savings account, which pays 12% interest annually If you make your first deposit at the end of this year, and you would like your account to reach a balance of $100 000 when the final deposit is made, how much will you have to deposit in the account annually?
 

Answer rating: 100% (QA)

Period 51 4 years Future value factor 1124 1012478 1000... View the full answer