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What single payment would be made today to achieve objective

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Reference no: EM132662022

You need $28,974 at the end of 10 years, and your only investment choice is an 8% long-term certificate of deposit with interest compounded annually. With the certificate of deposit, you make one initial deposit right now.

Problem A. What single payment would be made today to achieve this objective.

Problem B. What amount would you deposit at the end of each year annually for 10 years to achieve this same objective?

Problem C. What amount would you deposit at the beginning of each year annually for 10 years to achieve the same objective?

Reference no: EM132662022

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