Peter would like to save money to buy a telescope, how much would he need to deposit annually to have $30,000 at the end of 5 years with an annual interest rate of 8%? O $4337.37 $5113.69 $5020.51 $6281.35

Peter would like to save money to buy a telescope, how much would he need to deposit annually to have $30,000 at the end of 5 years with an annual interest rate of 8%? O $4337.37 $5113.69 $5020.51 $6281.35

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

Peter would like to save money to buy a telescope, how much would he need to deposit annually to have
$30,000 at the end of 5 years with an annual interest rate of 8%?
O $4337.37
$5113.69
$5020.51
O $6281.35

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