Raymond just inherited $10000. How much should Raymond deposit in an account earning 6% interest per year if he would like to have $18500 in his account in 20 years? Include a cash flow diagram in your solution. urgent

Raymond just inherited $10000. How much should Raymond deposit in an account earning 6% interest per year if he would like to have $18500 in his account in 20 years? Include a cash flow diagram in your solution. urgent

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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Raymond just inherited $10000. How much
should Raymond deposit in an account
earning 6% interest per year if he would like to
have $18500 in his account in 20 years?
Include a cash flow diagram in your solution.
urgent

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