Using Goal Seek for the following problem, how much is needed for John to deposit each year into an account to save $5,000 for his new Specialized Mountain bike. Assumes both deposit and withdrawal are at beg of each year Deposit = Interest= 8%
Using Goal Seek for the following problem, how much is needed for John to deposit each year into an account to save $5,000 for his new Specialized Mountain bike. Assumes both deposit and withdrawal are at beg of each year Deposit = Interest= 8%
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Transcribed Image Text:Using Goal Seek for the following problem, how much is needed for John to deposit
each year into an account to save $5,000 for his new Specialized Mountain bike.
Assumes both deposit and withdrawal are at beg of each year
Deposit =
Interest=
Yr 0
Yr 1
Yr 2
Beg Balance
$0.00
$0.00
$0.00
Deposit
$0.00
$0.00
-$5,000.00
Interest Earned
8%
$0.00
$0.00
na
End Balance
$0.00
$0.00
-$5,000.00
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