Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now to yeild an annuity payment of $800 at the END of each year, for 10 years?
PV = 800( 1 - 1.09^-10)/.09
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Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now
Your bank pays 9% interest, compounded annually. Use the appropriate formula to find how much you should deposit now to yeild an annuity payment of