You want to have 58000 in your savings account 6 years from

You want to have $58,000 in your savings account 6 years from now, and you\'re prepared to make equal annual deposits into the account at the end of each year. If the account pays 7.5 percent interest, what amount must you deposit each year?

FV = 58,000, PV = 0, N = 6, rate = 7.5%

use PMT function in Excel

annual deposits = 8,006.60

$You want to have $58,000 in your savings account 6 years from now, and you\'re prepared to make equal annual deposits into the account at the end of each year.$

You want to have 58000 in your savings account 6 years from

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