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Determine the periodic deposit

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Reference no: EM13844438

Perlodic Deposit $? at the end of each year
Rate 5.5% compounded annually
Time  18 years
Financial Goal $140,000

a. Determine the periodic deposit.

b. How much of the financial goal comes from deposits and how much comes from interest?

a. In order to have $140,000 in 18 years, you should deposit $____ each year.

b. $_____ of the $140,000 comes from your deposits and $_____ comes from interest.

Reference no: EM13844438

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