George Bogut just received a signing bonus of $$1,071,000.$ His plan is to invest this payment in a fund that will earn $8\%,$ compounded annually.

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$($a$)$

Your answer is correct.

If Bogut plans to establish the $AB$ Foundation once the fund grows to $$2,140,929,$ how many years until he can establish the foundation? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.25.)$

years

eTextbook and Media

Attempts: $2$ of $3$ used

If Bogut plans to establish the $AB$ Foundation once the fund grows to $$2,140,929,$ how many years un foundation? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.25.)$

years

eTextbook and Media

Attempts: $2$ of $3$ use

$($b$)$

Instead of investing the entire $$1,071,000,,$ Bogut invests $$285,600$ today and plans to make $9$ equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $$2,140,929$ foundation at the end of $9$ years? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Payments $