Question
How much money must Ms. Galesburg deposit into a 3.8% (annual rate of return) savings account at the Plainfield Community Credit Union, at the beginning
How much money must Ms. Galesburg deposit into a 3.8% (annual rate of return) savings account at the Plainfield Community Credit Union, at the beginning of each year, to accumulate $4,550,000 by the end of year 26? [Previous question 11 had the same numbers, but with end of year cash flows.]
- A. $188,552.70
- B. $101,745.46
- C. $109,625.03
- D. $289,095.23
- E. $105,611.79
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
10th Edition
1260013820, 978-1260013825
