Author Question: Zheng Sen wishes to accumulate 1 million by the end of 20 years by making equal annual end-of-year ... (Read 86 times)

joblessjake · **on:** Jul 10, 2018

Zheng Sen wishes to accumulate 1 million by the end of 20 years by making equal annual end-of-year deposits over the next 20 years. If Zheng Sen can earn 10 percent on his investments, how much must he deposit at the end of each year?

A) 14,900
B) 50,000
C) 117,453
D) 17,460

Question 2

One strength of payback period is that it fully accounts for the time value of money.

Indicate whether the statement is true or false