You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make equal annual deposits into the account at the end of each year
You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make equal annual deposits into the account at the end of each year
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
Problem 1PS
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You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. If the account pays 9.5 percent interest, what amount must you deposit each year?
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