Question 3 (1 point)

 

You need to accumulate $81,972 for your son’s education. You have decided to place equal year-end deposits in a savings account for the next 7 years. The savings account pays 13.24 percent per year, compounded annually.  How much will each annual payment be?

Round the answer to two decimal places.

Homework #3C (How much will each annual payment be (Using FV or PV)

Finance 330

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