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 Financial Goal $? at the end of each month 6.5% compounded monthly 15 years $220,000 LOADING... Click the icon to view some finance formulas. a. The periodic deposit is $nothing. (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. $nothing of the $220,000 comes from deposits and $nothing 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 Financial Goal $? at the end of each month 6.5% compounded monthly 15 years $220,000 LOADING... Click the icon to view some finance formulas. a. The periodic deposit is $nothing. (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. $nothing of the $220,000 comes from deposits and $nothing 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
Related questions
Question
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
|
Financial Goal
|
|---|---|---|---|
|
$? at the end of each month
|
6.5%
compounded monthly |
15
years |
$220,000
|
LOADING...
a.
The periodic deposit is
$nothing.
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
b.
$nothing
of the
$220,000
comes from deposits and
$nothing
comes from interest.(Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.)
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