Question:Ray wants to accumulate 8,000 at the end of 20 years. At the
end of each...
Question
Ray wants to accumulate 8,000 at the end of 20 years. At the
end of each...
Ray wants to accumulate 8,000 at the end of 20 years. At the
end of each year for the first 10 years he deposits 150. At the end
of each year for the next 10 years he deposits X. The annual
effective interest rate is 5%. Calculate X.