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Riley wants to have $198,594 in her savings account in 4 years. Riley opened her savings account with a deposit of $17,000. Riley intends to

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Riley wants to have $198,594 in her savings account in 4 years. Riley opened her savings account with a deposit of $17,000. Riley intends to make equal deposits into the savings account at the end of every three months for the next four years. Riley will earn 12% interest compounded quarterly on all deposits with the bank. Calculate the amount of each equal quarterly deposit that Riley must make in order to have $198,594 in her account in four years. You will need to use the time value of money table factors posted in carmen to answer this question. To access these factors, click modules and then scroll to week 10. Click on the link labeled present & future value table factors. No credit will be awarded for this question using a means other than these posted table factors to answer this question. Future Value of an Annuity Periods wO0O 4 S 6 7 8 9 10 12 15 16 17 18 19 20 21 22 23 24 25 60 V% 3.015 4.030 5.050 6.075 7.105 8.14 9.1821 10.228 12.335 15.536 16.614 17.697 18.785 19.879 20.979 22.084 23.194 24.310 25.432 26.559 69.770 Rate of interest per period in percent 3% 5% 6% 8% 9% 10% 12% 15% 20% 3.090 3.152 3.183 3.246 3.278 3.310 3.374 3.472 3.640 4.183 4.310 4.374 4.506 4.573 4.641 4.779 4.993 5.368 5.309 5.525 5.637 5.867 5.985 6.105 6.353 6.742 7.441 6.468 6.801 6.975 7.336 7.523 7.715 8.115 8.753 9.929 7.662 8.142 8.393 8.925 9.200 9.487 10.089 11.066 12.915 8.892 9.549 9.897 10.636 11.028 11.435 12.299 13.726 16.499 10.159 11.026 11.491 12.487 13.021 13.579 14.775 16.785 20.798 11.464 12.580 13.180 14.486 15.193 15.937 17.549 20.303 25.958 14.192 15.917 16.870 18.977 20.140 21.384 24.133 29.001 39.580 18.599 21.578 23.276 27.152 29.360 31.772 37.280 47.580 72.035 20.156 23.657 25.672 30.324 33.003 35.949 42.753 55.717 87.442 21.761 25.840 28.218 33.750 36.973 40.544 48.883 65.075 105.931 23.414 28.150 30.905 37.450 41.301 45.599 55.749 75.836 128.117 25.116 30.539 33.759 41.446 46.018 51.159 63.439 88.211 154.740 26.870 33.065 36.785 45.762 51.160 57.275 72.052 102.444 186.688 28.676 35.719 39.992 50.422 56.764 64.002 81.698 118.810 225.026 30.536 38.505 43.392 55.456 62.873 71.402 92.502 137.632 271.031 32.452 41.430 46.995 60.893 69.531 79.543 104.603 159.276 326.237 34.426 44.502 50.815 66.764 76.789 88.497 118.155 184.168 392.484 36.459 47.727 54.864 73. IOS 84.700 98.347 133.334 212.793 471.981 163.053 353.584 533.128 1253.21 1944.79 3034.82 7471.64 29219.9 281732 Present Value of an Annuity 000 Periods 3 4 5 6 7 8 9 10 12 15 16 17 18 19 20 21 22 23 24 % 2.970 3.950 4.925 5.896 6.862 7.823 8.779 9.730 11.618 14.416 15.339 16.258 17.172 18.082 18.987 19.888 20.784 21.675 22.562 3% 2.828 3.717 4.579 5.417 6.230 7.019 7.786 8.530 9.954 11.937 12.561 13.166 13.753 14.323 14.877 15.415 15.936 16.443 16.935 Rate of interest per period in percent 6% 8% 9% 10% 2.673 2.577 2.531 2.487 3.465 3.312 3.239 3.170 4.212 3.992 3.889 3.790 4.917 4.623 4.485 4355 5.582 5.206 5.033 4.868 6.209 5.746 5.534 5.334 6.801 6.247 5.995 5.759 7.360 6.710 6.417 6.145 8.383 7.536 7.160 6.813 9.712 8.559 8.060 7.606 10.105 8.851 8.312 7.823 10.477 9.121 8.543 8.021 10.827 9.371 8.755 8201 11.158 9,603 8.950 8.364 11.469 9.818 9.128 8.520 11.764 10.016 9.292 8.648 12.041 10.200 9.442 8.771 12 303 10.371 9.580 8.883 12.550 10.528 9.706 8.984 5% 2.723 3.546 4.329 5.076 5.786 6.463 7.108 7.721 8.863 10:379 10.837 11.274 11.689 12.085 12.460 12.821 13.163 13.488 13.798 MOOSIN 129 2.402 3.037 3.604 4.111 4.563 4.967 5.328 5.650 6.194 6.810 6.974 7.119 7.249 7.365 7.469 7.562 7.644 7.718 7.784 15% 2.283 2.855 3.352 3.784 4.160 4.487 4.771 5.018 5.420 5.847 5.954 6.047 6.128 6.198 6.259 6.312 6.358 6.398 6.433 20% 2.106 2.588 2.990 3.325 3.604 3.837 4.031 4.193 4.439 4.675 4.729 4.774 4.812 4.843 4.869 4.891 4.909 4.924 4.937 Periods 3 4 5 6 7 8 9 10 12 15 16 17 18 19 20 21 22 23 24 25 60 1.015 1.020 1.025 1.030 1.035 1.040 1.045 1.051 1.061 1.077 1.083 1.088 1.093 1.099 1.104 1.110 1.116 1.121 1.127 1.132 1.348 3% 1.092 1.125 1.159 1.194 1.229 1.266 1.304 1.343 1.425 1.558 1.604 1.652 1.702 1.753 1.806 1.860 1.916 1.974 2.033 2.094 5.891 1.157 1.215 1.278 1.340 1.407 1.478 1.551 1.629 1.795 2.078 2.182 2.292 2.406 2.527 2.653 2.786 2.925 3.071 3.225 3.386 18.679 Future Value of a Lump-Sum Rate of interest per period in percent 6% 8% 9% 10% 12% 15% 20% 1.191 1.259 L.295 1.331 1.404 1.520 1.728 1.263 1.360 1.411 1.464 1.573 1.749 2.073 1.338 1.469 1.538 1.610 1.762 2.011 2.488 1.418 1.586 1.677 1.771 1.973 2.313 2.986 1.503 1.713 1.828 1.948 2.210 2.660 3.583 1.594 1.851 1.992 2.144 2.476 3.059 4.299 1.689 1.999 2.171 2.357 2.773 3.517 5.159 1.790 2.159 2.367 2.594 3.105 4.045 6.191 2.012 2.518 2.812 3.138 3.896 5.350 8.916 2.396 3.172 3.642 4.177 5.473 8.137 15.407 2.540 3.425 3.970 4.595 6.130 9.357 18.488 2.692 3.700 4.327 5.054 6.866 10.761 22.186 2.854 3.996 4.717 5.559 7.690 12.375 26.623 3.025 4315 5.141 6.115 8.612 14.231 31.948 3.207 4.661 5.604 6.727 9.646 16.366 38.337 3.399 5.033 6.108 7.400 10.803 18.821 46.005 3.603 5.436 6.658 8.140 12.100 21.644 55.206 3.819 5.871 7.257 8.954 13.552 24.891 66.247 4.048 6.341 7911 9.849 15.178 28.625 79.496 4.291 6.848 8.623 10.834 17.000 32.919 95.396 32.987 101.257 176.031 304.482897.597 4383.99 56347.5 Periods 3 4 10 12 15 16 17 18 19 20 21 22 23 24 inor OSO985 % 0.985 0.980 0.975 0.970 0.965 0.960 0.956 0.951 0.941 0.927 0.923 0.918 0.914 0.909 0.905 0.900 0.896 0.891 0.887 3% 0.915 0.888 0.862 0.838 0.813 0.789 0.766 0.744 0.701 0.641 0.623 0.605 0.587 0.570 0.553 0.537 0.522 0.507 0.492 5% 0.863 0.822 0.783 0.746 0.710 0.676 0.644 0.613 0.556 0.481 0.458 0.436 0.415 0.395 0.376 0.358 0.341 0.325 0.310 Present Value of a Lump-Sum Rate of interest per period in percent 6% 8% 9% 10% 0.840 0.793 0.772 0.751 0.792 0.735 0.708 0.683 0.747 0.680 0.649 0.621 0.705 0.631 0.596 0.564 0.665 0.583 0.547 0.513 0.627 0.540 0.501 0.466 0.592 0.500 0.460 0.424 0.558 0.463 0.422 0.385 0.497 0.397 0.356 0.318 0.417 0.315 0.274 0.239 0.393 0.291 0.251 0.217 0.371 0.270 0.231 0.197 0.350 0.250 0.212 0.179 0.330 0.231 0.194 0.163 0.311 0.214 0.178 0.148 0.294 0.198 0.163 0.135 0.277 0.183 0.150 0.122 0.261 0.170 0.137 0.111 0.247 0.157 0.126 0.101 12% 0.712 0.635 0.567 0.507 0.452 0.403 0.360 0.322 0.257 0.183 0.163 0.145 0.130 0.116 0.103 0.092 0.082 0.073 0.065 15% 0.657 0.571 0.497 0.432 0.375 0.326 0.284 0.247 0.186 0.122 0.106 0.092 0.080 0.070 0.061 0.053 0.046 0.040 0.034 20% 0.578 0.482 0.401 0.334 0.279 0.232 0.193 0.161 0.112 0.064 0.054 0.045 0.037 0.031 0.026 0.021 0.018 0.015 0.012

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