Future Value
Not what you're looking for?
You need to accumulate $10,000. To do so you plan to make deposits of $1250 per year, with the first payment being made a year from today in a bank account that pays 12 percent interest. Your last deposit will be less than $1250 if less is need to round out to $10,000. How many years will it take you to reach your $10,000 goal, and what will be the last deposit?
Purchase this Solution
Solution Summary
The solution calculates the number of years required to achieve a future value, given the value of annual deposits (annuity).
Solution Preview
You need to accumulate $10,000. To do so you plan to make deposits of $1250 per year, with the first payment being made a year from today in a bank account that pays 12 percent interest. Your last deposit will be less than $1250 if less is ...
Purchase this Solution
Free BrainMass Quizzes
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Motivation
This tests some key elements of major motivation theories.