Question

answers only please

How much must be deposited at the beginning of each year an account that pays 7%, compounded annually so that the account will contain $32,000 at the end of 5 years? (Round your answer to the nearest cent) $ Need Help?

Answer 1

The answeres are (b) (۹) 5200.469346 h 3373 ۱۹O و ددو 708 - 60} 33

The Pomula to be used is A. PMT X { / (1 fm) 4 XClean Future value of te Investment A BRE Periodic Payment the annual Interest rate (decimal) er number of times that interest in Companded per unit & to the time, the money is invested for. (@) Here ez 0.07 let PMT - 20 A 232,000 $ 2 5 5 32,000 = x x 6:07) ' [[lit 0.07 N 32,000 X 0.07. i (1.0715 -1) X1-07 5564.50223 107 5200.489346 $

A 0052 190.000 19 Le of PMT X C. 140,000 * licitaosa) -1 1 0:05 2 2 2 140,000 X 40 X 0026 (1026 1.28 - )*1026 30so gess 133730170 $ 22 (C) at end of Here deposits are made each 6 month period therefore PMT 2 help A 2 90 000 st 215 2 2.0.08

90,000 X 0.0P 414.1-1) 1604.708922 years here Let 420 2500 X +005 ។ 1 Gros 100 00 0 X 0.05 11 1.0125 - -] प 2500 yo (1.0125) L 3/ (1023) Taking log on both sides lg (1.5). 4x do (10125)