a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should this lump-sum deposit be? (Assume you can earn 9 percent on th c. At the end of five years, you will receive $10,000 and deposit this in the bank toward your goal of $56,000 at the end of year 14. In addition to the lump-sum deposit, how percent on your deposits.) a. How much must you deposit annually to accumulate this amount? (Round to the nearest cent.) b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should the lump-sum deposit be? (Round to the nearest cent) c. If you deposit $10,000 received at the end of five years in the bank, what will the amount grow to by the end of year 14? (Round to the nearest cent.) In addition to the lump-sum deposit, how much must you deposit in equal annual amounts, beginning in year 1 to reach your goal? (Round to the nearest cent) Camis
a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should this lump-sum deposit be? (Assume you can earn 9 percent on th c. At the end of five years, you will receive $10,000 and deposit this in the bank toward your goal of $56,000 at the end of year 14. In addition to the lump-sum deposit, how percent on your deposits.) a. How much must you deposit annually to accumulate this amount? (Round to the nearest cent.) b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should the lump-sum deposit be? (Round to the nearest cent) c. If you deposit $10,000 received at the end of five years in the bank, what will the amount grow to by the end of year 14? (Round to the nearest cent.) In addition to the lump-sum deposit, how much must you deposit in equal annual amounts, beginning in year 1 to reach your goal? (Round to the nearest cent) Camis
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 2STP
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