Question
You need to accumulate $90,830 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 $90,830 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 12.79 percent per year, compounded annually. How much will each annual payment be?
Round the answer to two decimal place
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
