How much money will AJ have at the end of eight years? ii. Suppose AJ decided that they need to have RM5300 at the end of eight years. How much will they have to deposit at the end of each year?
How much money will AJ have at the end of eight years? ii. Suppose AJ decided that they need to have RM5300 at the end of eight years. How much will they have to deposit at the end of each year?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 16PROB
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Question
If AJ corporation deposits RM150 at the end of each year for the next eight years in an account that pays 5 percent interest,
i. How much money will AJ have at the end of eight years?
ii. Suppose AJ decided that they need to have RM5300 at the end of eight years. How much will they have to deposit at the end of each year?
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