Acme Annunities recently offered an annuity that pays 4.8% compounded monthly. what equal monthly deposit should be made into this annuity in order to really have 163,000 in 8 years?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...
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Acme Annunities recently offered an annuity that pays 4.8% compounded monthly. what equal monthly deposit should be made into this annuity in order to really have 163,000 in 8 years?

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