On january 1 2014 alan king decided to transfer an amount, Ask an Expert

Accounting

On January 1, 2014, Alan King decided to transfer an amount from his checking account into a savings account so that he will have $95,000 to send his son to college 6 years from now. The savings account will earn 8 percent interest.

Required:

1. How much must Alan deposit on January 1, 2014 in order to reach his goal? (Round your final answer to the nearest whole dollar amount.)

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91968844

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