At the end of 6 years you will receive 9000 and deposit, Finance Basics

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At the end of 6 years you will receive 9000 and deposit

Question: At the end of 6 years you will receive $9,000 and deposit this in the bank toward your goal of $33,000 at the end of 11 years. In addition to this deposit, how much must you deposit in equal annual deposits to reach your goal? (Again assume you can earn 7percent on this deposit.)

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Finance Basics: At the end of 6 years you will receive 9000 and deposit

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