Question
You need to accumulate $79,520 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 16
You need to accumulate $79,520 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 16 years. The savings account pays 4.42 percent per year, compounded annually. How much will each annual payment be?
Round the answer to two decimal places.
Your
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
