Hidalgo Barbers wants to have $$230,000$ in $14$ years to build a second barbershop $14$ years from today. Commencing two years from today, Hidalgo will make twelve annual deposits of $$15,000$ at

the end of each year. Alternatively, the company can invest in a financial instrument earning $4\%$ compounded annually.

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Read the requirement. $($Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the

formula method, use factor amounts rounded to five decimal places, X$.$XXXXX$.$ Round your final answers to the nearest cent, $X$.$XX$.)$

a$.$ Will Hidalgo have sufficient funds to pay for the $$230,000$ barbershop at the end of the $14-$year period if the deposits are made at the end of the year?

Hidalgo will have

$\text{'}$at the end of the $14-$year period.

b$.$ Will Hidalgo have sufficient funds to pay for the $$230,000$ barbershop at the end of the $14-$year period if the deposits are made at

Yes, Hidalgo will have sufficent funds.

Hidalgo will have

$ $234,402\mathrm{.}57$

at the end of the $14-$year period.