Assume a 9% interest rate compounded annually. What annual deposit is necessary to give $10,000 in 6 years? A.future valueB.amortization    C.sinking fundD.present valueE.ordinary annuity Answer the question. (Round your answer to the nearest cent.)

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
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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Classify the financial problem. Assume a 9% interest rate compounded annually.

What annual deposit is necessary to give $10,000 in 6 years?
A.future valueB.amortization    C.sinking fundD.present valueE.ordinary annuity


Answer the question. (Round your answer to the nearest cent.)

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