from the department of petroleum engineering

3. Assume that in the circumstances described in Problem 4, it is not practicable to invest the entire lump sum indicated by your calculations. $500 will be invested on the 4 th birthday and a uniform annual deposit in the fund will be made on the 5th and 12th birthdays, both inclusive. Assuming 12% interest, what must be the annual deposit from the 5 th to 12 th birthdays? 4. Solve the following, using interest at 12% compounded annually: (a) What is the amount that will be accumulated in a fund at the end of 15 years if $200 is deposited in the fund at the beginning of each of the 15 years