A young couple wishes to accumulate $35,000 at the end of four years so that they may make a down payment on a house. What should their equal end-of-year deposits be accumulate the $35,000, assuming a 6% rate of interest? $7,718 $8,000 $6,915 $8,765
A young couple wishes to accumulate $35,000 at the end of four years so that they may make a down payment on a house. What should their equal end-of-year deposits be accumulate the $35,000, assuming a 6% rate of interest? $7,718 $8,000 $6,915 $8,765
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 16PROB
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A young couple wishes to accumulate $35,000 at the end of four years so that they may make a down payment on a house. What should their equal end-of-year deposits be accumulate the $35,000, assuming a 6% rate of interest?
- $7,718
- $8,000
- $6,915
- $8,765
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