How much must be saved annually, beginning one year from now, in order to accumulate $50,000 over the next 10 years, earning 9 percent annually?
A)$3,291
B)$3,587
C)$4,500
D)$4,587 $50,000 = pmt
= pmt
= pmt [15.1929]

Question

Quizplus · Accepted Answer

The correct answer is A.The future value of the annuity is $50,000. The interest rate is 9%. The number of years is 10. The present value of the annuity is $3,291.

How Much Must Be Saved Annually, Beginning One Year from Now