Your goal is to have $7,500 in your bank account by the end of four years. If the interest rate remains constant at 9% and you want to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.) $1,312.02 O $1,968.04 O $1,640.03 O $1,804.03 If your deposits were made at the beginning of each year rather than an at the end, by how much would the amount of your deposit change if you sti wanted to reach your goal by the end of four years? (Note: Round your answer for PMT to two decimal places.) $101.57
Your goal is to have $7,500 in your bank account by the end of four years. If the interest rate remains constant at 9% and you want to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.) $1,312.02 O $1,968.04 O $1,640.03 O $1,804.03 If your deposits were made at the beginning of each year rather than an at the end, by how much would the amount of your deposit change if you sti wanted to reach your goal by the end of four years? (Note: Round your answer for PMT to two decimal places.) $101.57
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter4: Managing Your Cash And Savings
Section: Chapter Questions
Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...
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