you want to establish a savings fund from which a community organization could draw 1690 a year

Name: you want to establish a savings fund from which a community organization could draw 1690 a year for 25 years if the account earns 4 percent what amount would you have to deposit now to achieve this go
Uploaded: 2023-10-17T15:08:26-08:00
Duration: 1 min 12 s
Channel: Keondre Parker
Description: you want to establish a savings fund from which a community organization could draw 1690 a year for 25 years if the account earns 4 percent what amount would you have to deposit now to achieve this go

Question

Christopher Dzorkpata · Accepted Answer

First, we need to calculate the present value of an annuity due to the fact that the community o

Question

You want to establish a savings fund from which a community organization could draw $1,690 a year for 25 years. If the account earns 4 percent, what amount would you have to deposit now to achieve this goal? Round time value factor to 3 decimal places and final answer to 2 decimal places.

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