Question
Question 5. Ross plans to set aside an equal amount of money at the end of each year so that he will have $25,000 saved
Question 5.
Ross plans to set aside an equal amount of money at the end of each year so that he will have $25,000 saved at the end of three years. If he can earn 47 percent per year, how much does he have to save annually?
A. $7,689.16
B. $7,596.61
C. $8,004.67
D. $8,333.33
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Financial Markets And Institutions
Authors: Jeff Madura
6th Edition
0324162618, 978-0324162615
