Question
You need to accumulate $114,480 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 14
You need to accumulate $114,480 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 14 years. The savings account pays 6.88 percent per year, compounded annually.How much will each annual payment be?
Round the answer to two decimal places AND SHOW FORMULA
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Analysis for Financial Management
Authors: Robert Higgins
11th edition
77861787, 978-0077861780
