Multiple Choice
Xiao Li wishes to accumulate $50,000 by the end of 10 years by making equal annual end-of-year deposits over the next 10 years. If Xiao Li can earn 5 percent on her investments, how much must she deposit at the end of each year?
A) $3,975
B) $6,475
C) $5,000
D) $4,513
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q79: Detta borrows $20,000 from the bank. For
Q80: Mr. Jackson has been awarded a bonus
Q81: Aunt Butch borrows $19,500 from the bank
Q82: The future value of an ordinary annuity
Q83: Calculate the present value of an annuity
Q85: The present value of $100 received at
Q86: A lottery administrator has just completed the
Q87: You have been offered a project paying
Q89: The future value of an ordinary annuity
Q119: The present value of an ordinary annuity