1. How much money must be put into a bank account yielding 5.25% (compounded monthly) in order to have $6,800 at the end of 11 years? Round to two decimal places.

I did manage to solve it but I need help in process

Amount deposited = 6,800/(1 + 0.0525/12)

Amount deposited = $3,821.65

1. (i) Develop the timeline (linear representation of the timing of cash flows)

2. (ii) Identify the time value of money variable (PV, FV, PMT, N or Rate) which needs to

   be calculated in the question.

3. (iii) Identify the values of the remaining four variables (PV, FV, PMT, N or Rate) from

   the question. Be sure to input positive or negative signs.

4. (iv) Calculate the correct value of the variable identified in step (ii).