Smith John and his wife Jane wishes to combine their annual savings of $50,000 and $30,000 to
deposit for 4 years. They are advised by their financial consultant to deposit the amount
annually at the beginning of each of the next 4 years into a savings account with a return of 5%.
Neither Smith nor his wife is financially savvy and enquire as to whether they can deposit the
same amount at the end of each year instead of the beginning. How much would they have in they deposit the money in the beginning of each year for 4 years?
Mathbot Says...
I wasn't able to parse your question, but the HE.NET team is hard at work making me smarter.