Posted by **Robert** on Monday, January 11, 2010 at 11:52am.

You need $28,974 at the end of 10 years, and your only investment outlet is an 8 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year.

A. What single payment could be made at the beginning of the first year to achieve this objective?

B. What amount could you pay at the end of each year annually for 10 years to achieve this same objective?

## Answer This Question

## Related Questions

- accounting - You need $28,974 at the end of 10 years, and your only investment ...
- math - Sonia received a statement on her Certificate of Deposit showing that her...
- MATH - Mabel has $35,000 to invest in a certificate of deposit for 4 years. The ...
- Math - I really need some help with this one. Envision that you have served as ...
- Business - Envision you have served as business manager for over two years. you ...
- Math - Using the formula. I =Prt ,calculate the simple interest where t=1/n and ...
- Math - Envision that you have served as business manager of Media World for over...
- Math - Can someone steer me in the right direction? Here's the question. ...
- Business/ Math/ Investment - I Only Need Question 3. I have completed the rest. ...
- Math - Envision that you have served as business manager of Media World for over...

More Related Questions