Olivia plans to make 25 annual contributions to a college saving account, with the first contribution to be made 1 year from today. There will be four annual withdrawals of $90753 starting at the end of year 22. Calculate the required size of the annual contributions if the interest rate is 2.04%." "11,625" "13,253" "13,186" "12,726" "12,775"
Olivia plans to make 25 annual contributions to a college saving account, with the first contribution to be made 1 year from today. There will be four annual withdrawals of $90753 starting at the end of year 22. Calculate the required size of the annual contributions if the interest rate is 2.04%." "11,625" "13,253" "13,186" "12,726" "12,775"
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 22PROB
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Olivia plans to make 25 annual contributions to a college saving account, with the first contribution to be made 1 year from today. There will be four annual withdrawals of $90753 starting at the end of year 22. Calculate the required size of the annual contributions if the interest rate is 2.04%."
"11,625" |
||
"13,253" |
||
"13,186" |
||
"12,726" |
||
"12,775" |
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