What annual deposit must robert make, Accounting Basics

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What annual deposit must robert make

Robert Hitchcock is 40 years old today and he wishes to accumulate $500,000 by his sixty-fifth birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his fortieth through his sixty-fourth birthdays. What annual deposit must Robert make if the fund will earn 12% interest compounded annually?

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Accounting Basics: What annual deposit must robert make

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Recent Questions Asked Accounting Basics

Q : What effect will this growth have on funds

Q : Write disadvantages of use of excess cash

Q : Prepare a single-step income statement

Q : Shares to be sold

Q : What annual deposit must robert make

Q : Why is it difficult for entrepreneur to raise capital

Q : Expected price per share

Q : Explain what rate of interest will she need to earn annually

Q : Price per share of gallagher corporation

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Ask an Expert for Answer!!

Accounting Basics: What annual deposit must robert make

Reference No:- TGS0557693

Recent Questions Asked Accounting Basics

Q : What effect will this growth have on funds

Q : Write disadvantages of use of excess cash

Q : Prepare a single-step income statement

Q : Shares to be sold

Q : What annual deposit must robert make

Q : Why is it difficult for entrepreneur to raise capital

Q : Expected price per share

Q : Explain what rate of interest will she need to earn annually

Q : Price per share of gallagher corporation

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