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 $
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 39P
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![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 $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcd92c089-38a4-4fed-901a-53131671f71e%2F0541e208-11da-4b19-acef-bcfa40164f36%2Fr28mn4g_processed.png&w=3840&q=75)
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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