Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he graduates in four years. If he can earn 8 percent return on investment semiannually, calculate the amount that he needs to deposit every year to have RM10,000 upon his graduation.

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
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Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he graduates in four years. If he can earn 8 percent return on investment semiannually, calculate the amount that he needs to deposit every year to have RM10,000 upon his graduation.

 

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