ABC plans to make equal payments into a fund on 1/1 of each year, beginning on...

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ABC plans to make equal payments into a fund on 1/1 of each year, beginning on...

ABC plans to make equal payments into a fund on 1/1 of each year, beginning on 1/1/A with the final payment on 1/1/D, to pay the principal (only) of serial bonds maturing $50,000 on 12/31/C and $50,000 on 12/31/D. How much must be deposited annually if the fund earns 10%? Show work.

Ans: $20,568 annually

Please explain how to solve using FINANCIAL CALCULATOR

business accounting

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