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You will make five deposits in the next 5 years so that you will have $700 at the end of year 5. You deposit $100.00
You will make five deposits in the next 5 years so that you will have $700 at the end of year 5. You deposit $100.00 at the end of each year for the first four years. How much is your 5th deposit so that you have the exact $600 right after you make the 5th deposit? The compound interest rate is 12%.
600 for the next payment not the year , the 5th payment , 700 at the end of all payments
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