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 month Rate 8.25% compounded monthly Time 50 years Financial Goal $1,250,000 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.)

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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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 month
Rate
8.25% compounded monthly
Time
50 years
Financial Goal
$1,250,000
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.)
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 $? at the end of each month Rate 8.25% compounded monthly Time 50 years Financial Goal $1,250,000 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.)
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