You want to withdraw $ 54,777 from your account at the end of one year and $ 10,521 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 12 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).

You want to withdraw $ 54,777 from your account at the end of one year and $ 10,521 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 12 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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