Business, 05.11.2020 19:10, mothertrucker2828
Harriet wishes to accumulate $60,000 in a fund at the end of 25 years. She plans to deposit $80 into the fund at the end of each of the first 120 months. She then plans to deposit $80 + X into the fund at the end of each of the last 180 months. Assume the fund earns interest at an annual effective rate of 3.66%. Determine X.
a) A Less than $86
b) At least $86, but less than $88
c) At least $88, but less than $90
d) At least $90, but less than $92
e) At least $92
Answers: 2
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Harriet wishes to accumulate $60,000 in a fund at the end of 25 years. She plans to deposit $80 into...
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