Question

You need to accumulate $114480 for your son's education. You have decided to place equal year-end...

You need to accumulate $114480 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 14 years. The savingsaccount pays 6.88 percent per year

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Answer #1

Computation of Equal annual Deposits = $5119.94

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