Equal amount at the end of each year

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Dr. J. wants to buy a Dell computer which will cost $3,700 seven years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 9% annual return. How much should he set aside? Use Appendix C. (Round "FV Factor" to 3 decimal places and your final answer to 2 decimal places.)

Reference no: EM131593909

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