How much would you need to deposit in an account each month in order to have $10,000 in the account in 8 years? Assume the account earns 4.3% interest. Round your answer to the nearest cent as needed.

How much would you need to deposit in an account each month in order to have $10,000 in the account in 8 years? Assume the account earns 4.3% interest. Round your answer to the nearest cent as needed.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How much would you need to deposit in an account each month in order to have $10,000 in the account in 8 years? Assume the account earns 4.3% interest.
Round your answer to the nearest cent as needed.

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