You plan to make a deposit every year into your retirement account for 30 years. Your...

You plan to make a deposit every year into your retirement account for 30 years. Your deposit at the end of the first year will be $2000. Each year you will increase your deposit by $500. What would be the equivalent amount that you would need to deposit each year if the amount you deposited every year never changed. (i.e. instead of your first deposit being $2000 and your second being $2500, etc., your first deposit will be $X and your second deposit will be $X, etc.) The interest rate on your account is 4% compounded annually. Include Cash Flow Diagram.

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jeff jeffy answered 1 year ago

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