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 $? at the end of each month 5.5% compounded monthly Click the icon to view some finance formulas. Time 11 years b. $ of the $200,000 comes from deposits and (Use the answer from part (a) to find these answers. Financial Goal $200,000 a. The periodic deposit is $. (Do not round until the final answer. Then round up to the nearest dollar as needed.) 2 comes from interest. Round to the nearest dollar as needed.)

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A: Annual Deposits = $2,500 Time duration = 30 years  Rate = 8%

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Q: Future values For each of the cases shown in the following table, calculate the future value of the…

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Q: An investment account returns 6.29% annually. You want to withdraw $ 10,000 each year for the next…

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A: Initial Deposit = p = $300Future Value = fv = $1000Interest rate = r = 7%Time = n = ?

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Q: Construct an amortization schedule for a $1.000, 3.5% annual rate loan with 3 equal payments. The…

A: Annual Payment = [PV of Annuity * r] /[1 - (1 + r)-n]

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A:

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.