Q3:How much money must you deposit in year 6 if you deposit $5000 now and you want to have $12,000 at the end of year 11? Assume your deposits earn interest at 6% per year. [40 marks]

Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
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Q3:How much money must you deposit in year 6 if you deposit $5000
now and you want to have $12,000 at the end of year 11?
Assume your deposits earn interest at 6% per year.
[40 marks]
Transcribed Image Text:Q3:How much money must you deposit in year 6 if you deposit $5000 now and you want to have $12,000 at the end of year 11? Assume your deposits earn interest at 6% per year. [40 marks]
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