How much money would you have to deposit for 5 consecutive years starting 1 year from now if you want to be able to withdraw 50000 10 years from now if interest is 14% compounded annually?
How much money would you have to deposit for 5 consecutive years starting 1 year from now if you want to be able to withdraw 50000 10 years from now if interest is 14% compounded annually?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.CR: Review Problem Set
Problem 56CR
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How much money would you have to deposit for 5 consecutive years starting 1 year from now if you want to be able to withdraw 50000 10 years from now if interest is 14% compounded annually?
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