Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to...
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Finance
Reaching a Financial Goal
You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per year - with the first payment being made a year from today - into a bank account that pays 7% annual interest. Your last deposit will be less than $1,000 if less is needed to round out to $10,000.
How many years will it take you to reach your $10,000 goal?
Do not round intermediate calculations.
Round your answer up to the nearest whole number.
________ year(s)
How large will the last deposit be? Do not round intermediate calculations. Round your answer to the nearest cent.
$ ___________
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