You need to accumulate $102,119 for your son’s education. You have decided to place equal year-end deposits in a savings account for the next 15 years. The savings account pays 10.25 percent per year, compounded annually. How much will each annual payment be? Round the answer to two decimal places.
You need to accumulate $102,119 for your son’s education. You have
decided to place equal year-end deposits in a savings account for the next 15 years. The savings account pays 10.25 percent per year, compounded annually. How much will each annual payment be? Round the answer to two decimal places.
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