26 Jul HOW LARGE MUST THE ANNUAL DEPOSITS BE TO CREATE THE $220000 FUND BY THE END OF 42 YEARS?
Creating a retirement fundTosupplement your planned retirement in exactly 42 years you estimate tha Show more Creating a retirement fundTosupplement your planned retirement in exactly 42 years you estimate that you need to accumulate $220000 by the end of 42 yearsfrom today. You plan to make equal annual end-of-year deposits into an account paying 8% annual interest.a.How large must the annual deposits be to create the $220000 fund by the end of 42 years? b.If you can afford to deposit only $600 per year into the account how much willyou have accumulated by the end of the forty-second year? Copyright | Prentice Hall | Principles of Managerial Finance | Edition 13 | swiningerdc@aol.com | Printed from www.chegg.com From: undefined Source:ISBN: 0132997169 | Title: Principles of Managerial Finance | Publisher: Prentice Hall Show less
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