. A businessman needs an additional capital of 100000 for 10 years. What is the annual deposit in order to meet the required capital? Assume interest at 5%.
. A businessman needs an additional capital of 100000 for 10 years. What is the annual deposit in order to meet the required capital? Assume interest at 5%.
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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![. A businessman needs an additional capital of 100000 for 10 years. What is the annual deposit in
order to meet the required capital? Assume interest at 5%.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37038ba8-3002-46fd-a608-1809b4c7a809%2Fdc71cf7f-61d1-4627-8cb5-ae1bc53a0c1f%2Fr5zjtzd_processed.png&w=3840&q=75)
Transcribed Image Text:. A businessman needs an additional capital of 100000 for 10 years. What is the annual deposit in
order to meet the required capital? Assume interest at 5%.
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