Aaron wants to accumulate at least $60,000 by depositing $2,000 at the end of everymonth into a fund that earns interest at 4.50% compounded monthly.a. How many deposits does she need to make to reach her goal?0Round to the next paymentb. How long will it take Aaron to reach her goal?0 years0 monthsSUBMIT QUESTIONSAVE PROGRESS00 700 30SUBUS

Future value of annuity includes the amount being deposited and compounding interest accumulated…

month into a fund that earns interest at 4.50% compounded m a. How many deposits does she need to make to reach her goa 0 Round to the next payment b. How long will it take Aaron to reach her goal? years 0 months SUBMIT QUESTION

month into a fund that earns interest at 4.50% compounded m a. How many deposits does she need to make to reach her goa 0 Round to the next payment b. How long will it take Aaron to reach her goal? years 0 months SUBMIT QUESTION

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 11E

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Question

Aaron wants to accumulate at least $60,000 by depositing $2,000 at the end of every
month into a fund that earns interest at 4.50% compounded monthly.
a. How many deposits does she need to make to reach her goal?
0
Round to the next payment
b. How long will it take Aaron to reach her goal?
0 years
0 months
SUBMIT QUESTION
SAVE PROGRESS
00 700 30
SUB
US

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