Question
Deposits to accumulate future sums For each case shown in the following table, determine the amount of the equal, end-of-year deposits necessary to accumulate the
Deposits to accumulate future sums
For each case shown in the following table, determine the amount of the equal, end-of-year deposits necessary to accumulate the given sum at the end of the specified period, assuming the stated annual interest rate.
Case Sum to be accumulated Accumulation period (years) Interest rate
A $ 5,000 3 12%
B 100,000 20 7
C 30,000 8 10
D 15,000 1 28
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Practical Financial Management
Authors: William R. Lasher
6th Edition
1439080496, 978-1439080498
