Answered: You want to have a $40,000 college fund…

You want to have a $40,000 college fund in 6 years. How much will you have to deposit now in an account with an APR of 5% and annual compounding?

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.18E

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