SOLUTION: 3. You plan on buying a truck in 4 years’ time. The truck will cost $600,000 at that time. If you want to make four equal deposits and the end of each year. If your account earn

Algebra ->  Finance -> SOLUTION: 3. You plan on buying a truck in 4 years’ time. The truck will cost $600,000 at that time. If you want to make four equal deposits and the end of each year. If your account earn      Log On


   

Question 1187351: 3. You plan on buying a truck in 4 years’ time. The truck will cost $600,000 at that time. If you want to make four equal deposits and the end of each year. If your account earns 9% compounded annually, how much must you invest at the end of each year to accumulate your goal of $600,000?
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
the calculator at https://arachnoid.com/finance/index.html can help you.

here are the inputs.



here is the output.



here are the end of year by end of year remaining balances.



let me know if you have any questions.

theo