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Jabari Williams wants to have $112,000 in his account exactly 20 years from today. The account earns 8 % p.a. If Jabari makes a deposit into the account today and if he makes the exact same deposit into the account every year (with the last deposit made exactly 20 years from today), the size of his equal annual deposit must be at least $ O 1) 2,221.21 O2) 2,447.45 3) 2,304.22

Jabari Williams wants to have $112,000 in his account exactly 20 years from today. The account earns 8 % p.a. If Jabari makes a deposit into the account today and if he makes the exact same deposit into the account every year (with the last deposit made exactly 20 years from today), the size of his equal annual deposit must be at least $ O 1) 2,221.21 O2) 2,447.45 3) 2,304.22

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Listen Jabari Williams wants to have $112,000 in his account exactly 20 years from today. The account earns 8 % p.a. If Jabari makes a deposit into the account today and if he makes the exact same deposit into the account every year (with the last deposit made exactly 20 years from today), the size of his equal annual deposit must be at least $ 1) 2.221.21 O2) 2,447.45 O3)2,304.22 4) 2,644.12 5) 2,399.70
Transcribed Image Text:Listen Jabari Williams wants to have $112,000 in his account exactly 20 years from today. The account earns 8 % p.a. If Jabari makes a deposit into the account today and if he makes the exact same deposit into the account every year (with the last deposit made exactly 20 years from today), the size of his equal annual deposit must be at least $ 1) 2.221.21 O2) 2,447.45 O3)2,304.22 4) 2,644.12 5) 2,399.70
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