Answered: How much must be deposited at the end…

How much must be deposited at the end of each year into an account that earns 4.0 percent interest to have an account balance of $80,000 at the end of six years?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I need answer within 10 minutes please with my best wishes

How much must be deposited at the
end of each year into an account that
earns 4.0 percent interest to have an
account balance of $80,000 at the end
of six years? *

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