Decide to make annual deposits into savings account

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Suppose that the parents of a young child decide to make annual deposits into a savings account, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 15th birthday.? Then, starting on the? child's 18th? birthday, the withdrawals as shown on the diagram below will be made. If the effective annual interest rate is 7% during this period of time, what are the annual deposits in years 5 through 15? Use a uniform gradient amount? (G) in your solution.

The annual deposits in years 5 through 15 are ?

Reference no: EM131239700

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