Reaching a financial goal you need to accumulate 10000 to, Ask an Expert

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Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year - with the first payment being made a year from today - into a bank account that pays 9.41% annual interest. Your last deposit will be less than $1,350 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal?

Round your answer up to the nearest whole number. ________ year(s)

How large will the last deposit be? Round your answer to the nearest cent. $ ________

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91945385

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