How much amount needed in account to meet that goal

Reference no: EM131966153

Question: You will deposit $150 each of the next five years (the first deposit will occur one year from today, and there will be a total of 5 equal deposits) into an account that pays a 6.4% effective annual rate. Six years from today, you wish to have exactly $1000 in the account. You would need to deposit an additional $_______ into the account six years from today to meet that goal.

Reference no: EM131966153

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