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5. Determine the size of your investment account 30 years from now (when you plan to retire) if you deposit $12,000 each year, beginning 1
5. Determine the size of your investment account 30 years from now (when you plan to retire) if you deposit $12,000 each year, beginning 1 year from now, and the account earns interest at a rate of 10% per year. Draw the cash ow. (1 pt, 2.9) 5. Maintenance on a machine is $400 for the rst year then increases by $30 each year after that. You want to deposit enough in a savings account today to cover all of the maintenance for the next 5 years. How much would you need to deposit today if interest is 12%lyear compounded annually? Draw the cash ow. (2 pt)
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