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Required Lump - Sum Payment To complete your last year in business school and then go through law school, you will need $ 5 ,
Required LumpSum Payment
To complete your last year in business school and then go through law school, you will need $ per year for years, starting next year that is you will need to withdraw the first $ one year from today Your uncle offers to put you through school, and he will deposit in a bank paying interest a sum of money that is sufficient to provide the payments of $ each. His deposit will be made today. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter
a How large must the deposit be
$
b How much will be in the account immediately after you make the first withdrawal?
$
How much will be in the account immediately after you make the last withdrawal?
$
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