Question
(Annuity payments) Lisa Simpson wants to have $1,700,000 in 40 years by making equal annual end-of-the year deposits into tax-deferred account paying 9.00 percent annually.
(Annuity payments) Lisa Simpson wants to have $1,700,000 in 40 years by making equal annual end-of-the year deposits into tax-deferred account paying 9.00 percent annually. What must Lisa's annual deposit be?
The amount of Lisa's annual deposit must be $_____ (round to nearest cent)
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Financial Management Core Concepts
Authors: Raymond Brooks
4th Edition
134730417, 134730410, 978-0134730417
