It is desired to accumulate a fund of 1000 at the end of 8, Financial Management

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It is desired to accumulate a fund of 1000 at the end of 8

It is desired to accumulate a fund of $1000 at the end of 8 years by equal deposits at the beginning of each year. If the deposits earn interest at 8% effective but the interest can be reinvested at only 5% effective. What is the value of annual deposit?

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Financial Management: It is desired to accumulate a fund of 1000 at the end of 8

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Financial Management: It is desired to accumulate a fund of 1000 at the end of 8

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