Info
Warning
Danger
/ Homework Answers / Accounting / Question . Bob Smith borrowed $200,000 January 1, 2015. The interestrate

Question

Question

. Bob Smith borrowed $200,000 on January 1, 2015. The interestrate of 8% is compounded semiannually to be repaid January 1, 2025.To repay this Bob wants to start making five equal annual depositsinto fund that earns 6% annum on January 1, 2020.

Required:

What is the amount of the five annual deposits that Bob needs tomake?

Solution
5 (1 Ratings )

Solved
Accounting 6 Days Ago 39 Views
This Question has Been Answered!
Premium Content -