accounting
posted by Jill .
You need $28,974 at the end of 10 years, and your only investment outlet is an 8 percent longterm 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?

accounting 
baltej
Dhd 4*
Respond to this Question
Similar Questions

math
Sonia received a statement on her Certificate of Deposit showing that her investment had returned $3526.25 over its life. If the Certificate of Deposit pays a simple interest rate of 3.1% and her initial investment was $17,500 how … 
algebra interest word problem
Erin Grabish recevied $2,000 for speaking at a financial planning seminar. Erin invested the money in a certificate of deposit for 2 years. When she redeemed the certificate of deposit, she received $2166. What simple interest rate … 
Business
Envision you have served as business manager for over two years. you noticed that for the last 12 months the business has regularly had cash assets of$20,000 or more at the end of each month.you have found a 6month certificate of … 
Math
Can someone steer me in the right direction? 
Math
I really need some help with this one. Envision that you have served as business manager of Media World for over 2 years. You have noticed that for the last 12 months the business has regularly had cash assets of $20,000 or more at … 
math
You need $28,974 at the end of 10 years, and your only investment outlet is an 8 percent longterm certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the … 
Business/ Math/ Investment
I Only Need Question 3. I have completed the rest. I have had several solutions and cannot come up with an answer. Thank you! Envision that you have served as business manager of Media World for over 2 years. You have noticed that … 
Math
Envision that you have served as business manager of Media World for over 2 years. You have noticed that for the last 12 months the business has regularly had cash assets of $20,000 or more at the end of each month. You have found … 
Math
Using the formula. I =Prt ,calculate the simple interest where t=1/n and n is the number of periodd per year for compounding. You have $20,000 and wished to invest it in one of two ways. Option A: You may invest it in a certificate … 
MATH
Mabel has $35,000 to invest in a certificate of deposit for 4 years. The certificate of deposit earns interest at 4.75% compounded daily. What is the annual percentage yield to the nearest thousandth of a percent?