View the step-by-step solution to:

# -Principles of Engineering Economic Analysis -The time Value of Money -Use of Gradient is expected I need help with this problem. You want to be able...

-Principles of Engineering Economic Analysis
-The time Value of Money

I need help with this problem.

You want to be able to withdraw \$800 from a savings account at the end of year 1, \$900 at the end of year 2, \$1,000 at the end of year 3, and so on over a total of 5 years. How much must must be deposit right now, at the end of year 0, to just deplete the account after the 5 withdraws if the interest is 5% compounded annually?

this is how we start it out p=800(pa ,5%,5) 100(pg, 5%,5) p= 3718.80 but im not getting that i would greatly appreaciate the help

You want to be able to withdraw \$800 from a savings account at the end of year 1, \$900 at the end of year 2, \$1,000 at the end of year 3, and so on over a
total of 5 years. How much must must be...

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

### -

Educational Resources
• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents