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How much money must you pay into an account at the beginning of each of 20 years in order to have $10,000 at the end of the 20th year? Assume that the account pays 12% per year, and round to the nearest $1.a. $124b. $111c. $1,195d. $139
The previous posting showed that the answer is a. $124 however when I put it into a financial calculator as follows I get d. $139. Can someone help? Here's what I put in20 = number of years12 = i/y (interest)10,000 = FV0 = PVCPT PMT = 138.7878 rounded to $139
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