Question
You have just invested $3,000 into an account that will earn a 9% annual interest rate. You want to have exactly $8,000 in the account
You have just invested $3,000 into an account that will earn a 9% annual interest rate. You want to have exactly $8,000 in the account at the end of 5 years. The account allows you to make one deposit at the end of the 3rd year.In order to have exactly $8,000 at the end of year 5, how much must you deposit at the end of the 3rd year?
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Matlab An Introduction with Applications
Authors: Amos Gilat
5th edition
1118629868, 978-1118801802, 1118801806, 978-1118629864
