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2. To help you reach your $5,000 goal, your father offers to give you $2,000 today. You will need get a Part-Time job and make
2. To help you reach your $5,000 goal, your father offers to give you $2,000 today. You will need get a Part-Time job and make 20 additional deposits of equal amounts each 3 months thereafter. If all of the money is deposited in a bank that pays a stated 6% annual rate, compounded quarterly, how large must each of your 20 deposits be so that your account balance will be $5,000 in five years? Account Balance in 5 Years Invest Period - Years Investment Annual Interest Rate Compounding Periods per year $5,000 5 6% 4 What is the Future Value of the $2000 Lump sum received today? What is the $ Value for each of the required 20 deposits =
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