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  3. freddy wants to retire at the end of 3 years and t

Freddy wants to retire at the end of 3 years and thinks that that retirement...

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Accounting

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Freddy wants to retire at the end of 3 years and thinks that that retirement party is going to cost $9500. If the interest rate is 10%, how much should Freddy save each year? (Round your answer to the nearest dollar) The Finance Department threw a wild party and caused $15200 of damages to a neighborhood. The judge gave them 3 years to pay off the damages. If the payments are made at the end of each year and include 10% interest, what will the annual payment have to be? (Round your answer to the nearest dollar.)

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