Author Question: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes ... (Read 501 times)

cnetterville · **on:** Feb 2, 2020

Question 1

Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest?

A =

A =

P =

Periodic Deposit: $? at the end of every six months
Rate: 6% compounded semiannually
Time: 8 years
Financial Goal: $490,000
◦ $24,309; $388,944 from deposits and $101,056 from interest
◦ $51,314; $410,512 from deposits and $79,488 from interest
◦ $10,176; $162,816 from deposits and $327,184 from interest
◦ $42,848; $342,784 from deposits and $147,216 from interest

Question 2

Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest?

A =

A =

P =

Periodic Deposit: $? at the end of each month
Rate: 7.5% compounded monthly
Time: 3 years
Financial Goal: $28,000
◦ $696; $25,056 from deposits and $2944 from interest
◦ $621; $22,356 from deposits and $5644 from interest
◦ $746; $26,856 from deposits and $1144 from interest
◦ $2102; $25,224 from deposits and $2776 from interest

princessflame2016 · **Reply #1 on:** Feb 2, 2020

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