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(Solving far PMT of an annuity) To pay for your child's education, you wish to have accumulated 519,000 at the end of 11 years. To
(Solving far PMT of an annuity) To pay for your child's education, you wish to have accumulated 519,000 at the end of 11 years. To do this, you plan on depositing an equal amount into the bank at the end of each year. If the bank is willing to pay 15 percent compounded annually, how much must you deposit each year to reach your goal? To reach your goal, your annual deposit must be S-I- (Round to the nearest cent.) {Solving for r of an annuity) You lend a friend 510,000, which your friend will repay in 12 equal annual end-of-year payments of 32,000, with the first payment to be received 1 year from now. What rate of return does your loan receive? - o The rate of return your loan will receive is |:|",-"-:-. {(Round to two decimal places.)
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