How much will he have to save in equal amount

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Reference no: EM132019558

Suppose Studebaker's goal is to accumulate $400,000 in 20 years. Assume the $30,000 is invested at 8%. How much will he have to save in equal amount at teh end of each of teh next 20years if he can earn 8% per year on any investment .

Repart part (a) but assume he will not be able to save any money in years 13 to 20. This is, he will save an equal amount at the end of years 1 to12.

Reference no: EM132019558

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