Solved: Amount to deposit to buy a retirement home, Accounting Basics

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Amount to deposit to buy a retirement home

Question: The Kellys are planning for a retirement home. They estimate they will need $200,000 4 years from now to purchase this home. Assuming an interest rate of 10%, what amount must be deposited at the end of each of the 4 years to fund the home price? (Round to two decimal places.)

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Accounting Basics: Amount to deposit to buy a retirement home

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