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6. (4pts) An investor wishes to accumulate 5000 in a fund at the end of 15 years when the effective rate is 6%. To accomplish
6. (4pts) An investor wishes to accumulate 5000 in a fund at the end of 15 years when the effective rate is 6%. To accomplish this, she plans to make equal deposits of X at the end of each year for the 15 years. But she misses the five deposits in years 6 to 10. What is the level deposits during the last five years if she wants to achieve her goal? (Answer: 502.28)
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