Current Attempt in Progress Sharon is 40 years old today and she wishes to accumulate $2,360,000 by her sixty-fifth birthday so she can retire to a beach in Florida. She wishes to accumulate this amount by making equal deposits on her fortieth through her sixty-fourth birthdays. Click here to view factor tables Compute the annual deposit Sharon must make if the fund will earn 6% interest compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Annual deposit $
Current Attempt in Progress Sharon is 40 years old today and she wishes to accumulate $2,360,000 by her sixty-fifth birthday so she can retire to a beach in Florida. She wishes to accumulate this amount by making equal deposits on her fortieth through her sixty-fourth birthdays. Click here to view factor tables Compute the annual deposit Sharon must make if the fund will earn 6% interest compounded annually. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Annual deposit $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Current Attempt in Progress
Sharon is 40 years old today and she wishes to accumulate $2,360,000 by her sixty-fifth birthday so she can retire to a beach in
Florida. She wishes to accumulate this amount by making equal deposits on her fortieth through her sixty-fourth birthdays.
Click here to view factor tables
Compute the annual deposit Sharon must make if the fund will earn 6% interest compounded annually. (Round factor values to 5 decimal
places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.)
Annual deposit $
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