Question
You are going to put an equal amount of money, every year, into a saving account that earns 3% interest per year. Your goal is
You are going to put an "equal amount" of money, every year, into a saving account that earns 3% interest per year. Your goal is to accumulate $50,000 in exactly 10 years. If you make your first deposit today, how much will you need to deposit each year?
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Get StartedRecommended Textbook for
Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
15th edition
1337671002, 978-1337395250
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