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a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from
a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Click the icon to view some finance formulas. a. The periodic deposit is $ (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. of the $25,000 comes from deposits and $ comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. A=rP[(1+r)t1]A=(nr)P[(1+nr)nt1]P=[(1+nr)nt1]A(nr)
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