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Homework answers / question archive /  Xiao Xiii is planning to accumulate $40,000 by the end of 5 years by making 5 equal annual deposits

 Xiao Xiii is planning to accumulate $40,000 by the end of 5 years by making 5 equal annual deposits

Finance

 Xiao Xiii is planning to accumulate $40,000 by the end of 5 years by making 5 equal annual deposits. If she plans to make her first deposit today and can earn an annual compound rate of 9 percent on her investment, how much must each deposit be in order to accumulate the $40,000? (4 points) 
 

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