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 answer to two decimal places
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Fundamentals of Investments Valuation and Management
Authors: Bradford Jordan, Thomas Miller
7th edition
978-0078096785, 78096782, 978-0077861636, 77861639, 978-0078115660
