Alain Dupre wants to setup a scholarship fund for his school. The annual scholarship payment is to be $3500 with the first such payment due 4 years after his deposit into the fund. If the fund pays 9.2% compounded annually. How much most Alain deposit? He must deposit $___
Alain Dupre wants to setup a scholarship fund for his school. The annual scholarship payment is to be $3500 with the first such payment due 4 years after his deposit into the fund. If the fund pays 9.2% compounded annually. How much most Alain deposit? He must deposit $___
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 22E
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Alain Dupre wants to setup a scholarship fund for his school. The annual scholarship payment is to be $3500 with the first such payment due 4 years after his deposit into the fund. If the fund pays 9.2% compounded annually. How much most Alain deposit?
He must deposit $___
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