Solution-How much do you set aside each year

How much do you set aside each year

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You have the following financial needs: At the end of year 5, you need $6000; at the end of years 6 and 7, you need $4000 (each year); at the end of year 8, you need $3000. You plan to set aside equal annual payments (at the end of) each year for the next 4 years to provide for your needs. If the interest rate is 6%, how much do you set aside each year?

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How much do you set aside each year

Reference no: EM13853801

Reference no: EM13853801

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