you must use annuity, please show work A student wishes to purchase an item in 8 years

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you must use annuity, please show work

A student wishes to purchase an item in 8 years and know that the item will cost $ 8.000 in 8 years. The effective annual interest rate is 2%. The student deposits $700 at the end of each year for all 8 years. This will not be enough, so the student deposits and addtional X at the end of years 6,7, and 8 so that the accumulated value is $8,000. What is X

Posted Date: Jul 11, 2024 07:19 AM

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you must use annuity, please show work A student wishes to purchase an item in 8 years

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