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September 8th, 2009, 10:06 AM   #1
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Present value annuity

Zach wishes to accumulate $50,000 in a fund at the end of 20 years. If he deposits $100 + x in the fund at the end of every 3 months for the first 10 years and $100 in the fund at the end of every 3 months for the second 10 years, find x to the nearest dollar if i(4) = .04. Express the answer in terms of present value annuity symbols (a or a-double-dot) and then evaluate numerically. The answer is given as $520.

I'm not really clear on the present value annuity symbols and how they're supposed to be set up so any help would be great thanks!
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September 8th, 2009, 02:21 PM   #2
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Re: Present value annuity

Sorry, I don't know the symbols myself -- though I could solve the problem without. Maybe try myfinanceforum (link at the top of the page)?
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September 8th, 2009, 02:54 PM   #3
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Re: Present value annuity

ok thanks for your help!
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