Answered: You have a financial goal of $140,000.…

You have a financial goal of $140,000. The rate is 3% compounded annually. The time is 16 years. What is the periodic deposit at the end of each year?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 25E

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You have a financial goal of $140,000. The rate is 3% compounded annually. The time is 16 years. What is the periodic deposit at the end of each year?

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