Question
Kershaw wishes to accumulate $2 million by the end of 40 years by making equal annual end-of-year deposits over the next 40 years. If he
Kershaw wishes to accumulate $2 million by the end of 40 years by making equal annual end-of-year deposits over the next 40 years. If he can earn 10 percent on his investments, how much must he deposit at the end of each year?
| m | |
| Nper (or N) =n*m | |
| Rate (or I/Y)=i/m | |
| PV | |
| PMT | |
| FV | |
| Answer |
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Shipping Finance A Practical Handbook
Authors: Stephenson Harwood
4th Edition
1787421406, 978-1787421400
