How much each annual payment should be

Reference no: EM13179563

A person desres to accumulate $18500 over a period of five years from now so that a cash payment can be made foe a new car. to have this amount when t is neede, annual payments at the end of each year will be made to a savings account that earns 8% annual interest. How much each annual payment should be?

Reference no: EM13179563

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