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Chapter o Fomework 8 Exercise 6-10 Future value; solving for annuities and single amount [LO6-4, 6-8] 0.41 points John Rider wants to accumulate $105,000 to
Chapter o Fomework 8 Exercise 6-10 Future value; solving for annuities and single amount [LO6-4, 6-8] 0.41 points John Rider wants to accumulate $105,000 to be used for his daughter's college education. He would like to have the amount available on December 31, 2023. Assume that the funds will accumulate in a certificate of deposit paying 8% interest compoun ded annually. E of S1. PY of S1. EVA of S1. PVA of S1. EVAD of $1 and PVAD of S) (Use appropriate factors)from the tables provided.) 03:31:12 Answer each of the following independent questions. Required: 1. If John were to deposit a single amount, how much would he have to invest on December 31, 2018? 2. If John were to make five equal deposits on each December 31, beginning on December 31, 2019, what is the required amount of each deposit? If John were to make five equal deposits on each December 31, beginning on December 31, 20.18, what is the required amount of eBook Referenceseach deposit? For all requirements, Round your final answers to nearest whole dollar amount.) 1. Amount 2 Annuity amount 3 Annuity amount 71.461
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