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You need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the first payment being made a
You need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the first payment being made a year from today - into a bank account that pays 13% annual interest. Your last deposit will be less than $1,050 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
