Question
You need to accumulate $81,255 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 18
You need to accumulate $81,255 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 18 years. The savings account pays 10.10 percent per year, compounded annually.How much will each annual payment be?
Round the answer to two decimal places.
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Derivatives Markets
Authors: Robert L. McDonald
2nd Edition
032128030X, 978-0321280305
