Reference no: EM131298365
For the case shown in the following? table, determine the amount of the? equal, annual,? end-of-year deposits necessary to accumulate the given sum at the end of the specified? period, assuming the stated annual interest rate
Sum to be calculated $ 93,600 Accumulated Period (years) 15 Interest Rate 13%
1) The amount of the? end-of-year annual deposit is ? Round to nearest cent
To supplement your planned retirement in exactly45 years, you estimate that you need to accumulate $ 220,000 by the end of 45 years from today. You plan to make? equal, annual,? end-of-year deposits into an account paying 8% annual interest.
A) If the annual deposits to create the $ 220,000 fund by the end of 45 years should be? Round to nearest cent
B) If you can afford to deposit only $ 440 per year into the? account, how much will you have accumulated by the end of 45 years ?
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