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 Rate Time $? at the end of each year 5% compounded annually 14 years Financial Goal $130,000 Click the icon to view some finance formulas. a. The periodic deposit is $ ☐. (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. S of the $130,000 comes from deposits and $ comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.)
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 Rate Time $? at the end of each year 5% compounded annually 14 years Financial Goal $130,000 Click the icon to view some finance formulas. a. The periodic deposit is $ ☐. (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. S of the $130,000 comes from deposits and $ comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text: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
Rate
Time
$? at the end of each year
5% compounded annually
14 years
Financial Goal
$130,000
Click the icon to view some finance formulas.
a. The periodic deposit is $ ☐.
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
b. S
of the $130,000 comes from deposits and $
comes from interest.
(Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.)
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