Question
Deposits to accumulate future sums For the case shown in the following table, determine the amount of the equal, end-of-year deposits necessary to accumulate
Deposits to accumulate future sums For the 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. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Sum to be accumulated $19,900 Accumulation period (years) 8 Interest rate 12% The amount of the end-of-year annual deposit is $(Round to the nearest cent.)
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
13th Edition
9780132738729, 136119468, 132738724, 978-0136119463
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