2500(1.08)^3 + P(1.08^3 - 1)/.08 = 10,000
solve for P, P being the annual payment
( I got $2110.25)
Mary would like to save 10,000 by the end of 3 yrs from now she currently has 2500 in savings. she would like to make equal year end deposits to the savings. Account pays 8% interest. How much should the year end payments be
1 answer
3 answers