Instead annual payments are made at the end of years 8, Financial Management

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Instead annual payments are made at the end of years 8

Suppose you are planning to save $1000 per year for 10 years in a fund earns 10%. Assume that the first payment you would made at the end of Year 8 and the final payment at the end of Year 17. That is, no payments are made at the end of Years 1 through 7. Instead, annual payments are made at the end of Years 8 through 17. Determine the value of the fund now.

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Financial Management: Instead annual payments are made at the end of years 8

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