Determine the amount of each deposit

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Reference no: EM131319915

An investor wishes to accumulate $25,000 in a fund at the end of 12 years. To accomplish this, the investor plans to make constant deposits at the end of each year, the final payment made one year prior to the end of the investment period. Determine the amount of each deposit if the fund earns an 8% effective rate. (A) 1,220 (B) 1,317 (C) 1,391 (D) 1,471 (E) 1,502

Reference no: EM131319915

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