samwell and gilly want to make a single deposit today into a fund to accumulate...

70.2K

Verified Solution

Question

Accounting

samwell and gilly want to make a single deposit today into a fund to accumulate $50,000 to buy a horse 5 years from now for their son sam. if tge fund can earn a return of 8%, what is the amount that samwell and gilly need to deposit?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students