Question
Ray wants to accumulate 8,000 at the end of 20 years. At the end of each year for the first 10 years he deposits 150.
Ray wants to accumulate 8,000 at the end of 20 years. At the end of each year for the first 10 years he deposits 150. At the end of each year for the next 10 years he deposits X. The annual effective interest rate is 5%. Calculate X.
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Managing Currency Options In Financial Institutions
Authors: Yat-Fai Lam, Kin-Keung Lai
1st Edition
1138778052, 978-1138778054
