Answered

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a. Use the appropriate formula to determine the periodic deposit.
b. How much of the financial goal comes from deposits and how much comes from interest?
Periodic Deposit
$? at the end of each year

Rate
6% compounded annually
Time
18 years
...
Financial Goal
$150,000
a. The periodic deposit is $
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
b. $
of the $150,000 comes from deposits and $comes from interest.
(Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.)

Sagot :

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