How much must he save each year to the nearest dollar

Reference no: EM13336928

A student wants to have $30,000 when he graduates 4 years from now. His grandfather gave him a gift of $10,000. How much must he save each year (to the nearest dollar) if he deposits the $10,000 today and can earn 12% on both the $10,000 and his savings?

Reference no: EM13336928

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