Question

You would like to have $50,000 in 15 years. To accumulate this amount you plan to deposit each year an equal sum in the bank, which will earn 7% interest annually. Your first payment will be made at the end of the year.
Required:
A) How much must you deposit annually to accumulate this amount?
B) If you decide to make a lump-sum deposit today instead of the annual deposits, how large should this lump-sum deposit be?
C) At the end of five years, you will receive $10,000 and deposit this in the bank towards your goal of $50,000 at the end of 15 years. In addition to this deposit, how much must you deposit in equal annual deposits in order to reach your goal?

Answer 1

Answer:

ah

Explanation:

._.