Steve Madison needs $250,000 in 10 years. (Use the tables below.)

How much must he invest at the end of each year, at 11% interest, to meet his needs?

we're doing is investing the same amount each year for 10 years in order to get 250,000. We can do this with a summation calculation: 250000 = P * sum(1.11^t , t , 1, 10) 250000 = P * 18.56142995033279434701 13468.78988682214447947746249065 = P Roughly 13,469 dollars per year.

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