Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you need to accumulate $93,603 for your son's educ

You need to accumulate $93,603 for your son's education. You have decided to place equal...

70.2K

Verified Solution

Question

Finance

You need to accumulate $93,603 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 14 years. The savings account pays 8.48 percent per year, compounded annually. How much will each annual payment be? Round the answer to two decimal places.

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

Biology
1.2K views

A facultative halophile would be able to grow at all the following conditions EXCEPT...TSA without...

Physics
1.2K views

electron at the moment reaches the opposite prato A proton accelerated by a potential difference...

Physics
1.2K views

A wheel has a constant angular acceleration of 3 0 rad s2 During a certain...

Physics
1.2K views

Two identical positive charges are placed on the y axis at y a and y...

Basic Math
1.2K views

Function Calls Edit the given code to match the screenshot below Note the volume of...

Basic Math
1.2K views

The data in a data set are normally distributed with a mean of 190 and...

Statistics
1.2K views

Bone review question Which of the following are bones in your leg mark all that...

Accounting
1.2K views

Problem 14-11 (LO 14-4, 14-5, 14-6) A partnership begins its first year of operations with...

Accounting
1.2K views

company employs several expert installers who work on a full time basis. although the installation...

Accounting
1.2K views

9: Audit threats Describe the seven threats to independence articulated in the AICPAs independence conceptual...

Accounting
1.2K views

O 6 The passage of the Sarbanes Oxley Act wered Marted out of 30 Select...

Finance
1.2K views

You purchase 120 shares for $70 a share (52,4001 and after a year the price...