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Within the excel spreadsheet i keep getting 9 1 8 9 . 3 4 . I think i may be doing this the wrong way.
Within the excel spreadsheet i keep getting I think i may be doing this the wrong way. Growing Annuity Payments You want to accumulate $ million by your retirement date, which is years from now. You will make deposits in your bank, with the first occurring today. The bank pays interest, compounded annually. You expect to receive annual raise of which will offset inflation, and you will let the amount you deposit each year also grow by ie your second deposit will be greater than your first, the third will be greater than the second, etc. How much must your first deposit be if you are to meet your goal? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a positive value.
Within the excel spreadsheet i keep getting I think i may be doing this the wrong way. Growing Annuity Payments
You want to accumulate $ million by your retirement date, which is years from now. You will make deposits in your bank, with the first occurring today. The bank pays interest, compounded annually. You expect to receive annual raise of which will offset inflation, and you will let the amount you deposit each year also grow by ie your second deposit will be greater than your first, the third will be greater than the second, etc. How much must your first deposit be if you are to meet your goal? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a positive value.
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