Prepared to make equal annual deposits into the account

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Reference no: EM131841189

1. Calculating Annuity Values You want to have $82,000 in your savings account 9 years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 5 per cent interest, what amount must you deposit each year? Annual deposit: $____________.

2. Calculating the Number of Periods You have $2,500 today. You need $4,200. If you earn 0.65 percent per month, how many months will you wait? ____________ months.

Reference no: EM131841189

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