I have a question I need help with in Personal Finance?

~Joy~ asked:


I do NOT want to cheat. I just want someone to help me understand how to calculate this finance question. If you wanted to save 5,000 in 3 years and you already had 1000. With an interest rate of 8%, how would you go about calculating the equal year end deposits?

Calvert

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This entry was posted on Friday, November 28th, 2008 at 2:05 pm and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “I have a question I need help with in Personal Finance?”

1. REIBroker Says:
   December 1st, 2008 at 1:55 pm

   I have a handheld financial calculator but that’s not practical for answering your question. I did a quick search and found this calculator online that should answer your question. It won’t tell you HOW to do it but it may help you understand how to do it:

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