K a. Use the appropriate formula to determine the periodic deposit. b. How much of the...
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K a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate $? at the end of each month 6.5% compounded monthly Click the icon to view some finance formulas. Time 12 years Financial Goal $190,000 a. The periodic deposit is $ . (Do not round until the final answer. Then round up to the nearest dollar as needed.) comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) b. $ of the $190,000 comes from deposits and $ Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r) - 1] 1 A A = () A = P = r nt Print Done + K a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate $? at the end of each month 6.5% compounded monthly Click the icon to view some finance formulas. Time 12 years Financial Goal $190,000 a. The periodic deposit is $ . (Do not round until the final answer. Then round up to the nearest dollar as needed.) comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) b. $ of the $190,000 comes from deposits and $ Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. P[(1+r) - 1] 1 A A = () A = P = r nt Print Done +
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