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To accumulate $5,500 in 8 years, a deposit of X is to be made today and a second deposit of Xis to be made 3
To accumulate $5,500 in 8 years, a deposit of X is to be made today and a second deposit of Xis to be made 3 years from now. The effective annual interest rate is 2%. Which of the following is an incorrect equation of value for this problem. A. X[1.02)48 + X(1.02)^5 = 5,500, as of time 8. B. X+X(1.02) -3=5500(1.02) -8, as of time 0. C. X(1+v43) = 5500v 8, as of time 0. D. X-X(1.02)^3 = 5500(1.02)48, as of time 8. E. X-X(1.02)^3 = 5500v5, as of time 3
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