Asked by Jason
Effie's uncle and aunt wish to gift her exactly $100,00 on her 18th birthday. What amount should they deposit to her account on each birthday (including the 1st and 18th birthday) if the account earn 8.6% p.a compounded annually.
Answers
Answered by
oobleck
just use your annuity formula to find the deposit amount.
Also, $100,00 makes no sense.
Also, $100,00 makes no sense.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.