How much do you have to deposit now a with second deposit in the amount of $700 at the end of the first year so that you will be able to withdraw $150 at the end of the second year through the fourth year, and $600 at the end of the fifth and sixth year, if the bank pavs you 4% annual interest on your balance ? Use the factor table please
How much do you have to deposit now a with second deposit in the amount of $700 at the end of the first year so that you will be able to withdraw $150 at the end of the second year through the fourth year, and $600 at the end of the fifth and sixth year, if the bank pavs you 4% annual interest on your balance ? Use the factor table please
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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How much do you have to deposit now a with second deposit in the amount of $700 at the end of the first year so that you will be able to withdraw $150 at the end of the second year through the fourth year, and $600 at the end of the fifth and sixth year, if the bank pavs you 4% annual interest on your balance ?
Use the factor table please
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