7 - When you estimate that you can buy a house for 1,000,000 TL in 10 years, if you accept that the interest rate is 25% and will not change; Approximately how much money do you need to deposit in the bank annually? (The future value of annuities will be calculated with the formula.)    a) 78,898 TL  B) 65,778 TL  NS) 40,345 TL  D) 30,073 TL  TO) 76,778 TL

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
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Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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7 -

When you estimate that you can buy a house for 1,000,000 TL in 10 years, if you accept that the interest rate is 25% and will not change; Approximately how much money do you need to deposit in the bank annually? (The future value of annuities will be calculated with the formula.)
 
 a)

78,898 TL

 B)

65,778 TL

 NS)

40,345 TL

 D)

30,073 TL

 TO)

76,778 TL

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