50.1K
Verified Solution
Link Copied!
George plans to accumulate $100,000 at the end of 42 years. He makes the following deposits:
1. $1,000 right away
2. $X at the beginning of years 2-12
3. No deposits at the beginning of years 13-32
4. $Y at the beginning of years 33-42
The annual effective intereset rate is 4%. X-Y=100. Calculate Y.
Answer & Explanation
Solved by verified expert
