Answer:
the present sum that required to put in a saving account is $15,761.90
Explanation:
The computation of the present sum that required to put in a saving account is as follows
The present sum is
= $1,000 × P/A(6%, 50)
= $1,000 × 15.7619
= $15,761.90
Refer to the P/A factor table
hence, the present sum that required to put in a saving account is $15,761.90
The same is to be considered
