You wish to save money for the down payment on a home that you plan to buy in the future: You plan to make equal, annual, end-of-year deposits, over a period of N years, as shown in the table. There will be no intermediate withdrawals from the account. a. [20] What is the amount of the accumulated sum at the end of the planning period? [nearest dollar] b. [5] Because of an emergency at the end of year M, you do not make any deposit that year. What is the amount you will be short of the accumulated amount in part a, at the end of the planning period?

\begin{tabular}{|c|cc|cc|cc|cc|} \hline \multicolumn{1}{|l|}{i=10%} \\ \hline & \multicolumn{2}{|c|}{ Single cash flows } & \multicolumn{2}{|c|}{ Uniform series cash flows } & \multicolumn{2}{c|}{ Arithmetic gradient } \\ \cline { 2 - 9 } N & F/P & P/F & F/A & A/F & P/A & A/P & A/G & P/G \\ \hline 1 & 1.1000 & .90909 & 1.0000 & 1.0000 & 0.9091 & 1.1000 & 0 & 0 \\ 2 & 1.2100 & .82645 & 2.1000 & .47619 & 1.7355 & .57619 & .47619 & .82645 \\ 3 & 1.3310 & .75131 & 3.3100 & .30211 & 2.4869 & .40211 & .93656 & 2.3291 \\ 4 & 1.4641 & .68301 & 4.6410 & .21547 & 3.1699 & .31547 & 1.38117 & 4.3781 \\ 5 & 1.6105 & .62092 & 6.1051 & .16380 & 3.7908 & .26380 & 1.81013 & 6.8618 \\ \hline 6 & 1.7716 & .56447 & 7.7156 & .12961 & 4.3553 & .22961 & 2.22356 & 9.6842 \\ 7 & 1.9487 & .51316 & 9.487 & .105405 & 4.8684 & .20541 & 2.62162 & 12.763 \\ 8 & 2.1436 & .46651 & 11.436 & .087444 & 5.3349 & .18744 & 3.00448 & 16.029 \\ 9 & 2.3579 & .42410 & 13.579 & .073641 & 5.7590 & .17364 & 3.37235 & 19.421 \\ 10 & 2.5937 & .38554 & 15.937 & .062745 & 6.1446 & .16275 & 3.72546 & 22.891 \\ \hline 11 & 2.8531 & .35049 & 18.531 & .053963 & 6.4951 & .15396 & 4.06405 & 26.396 \\ 12 & 3.1384 & .31863 & 21.384 & .046763 & 6.8137 & .14676 & 4.38840 & 29.901 \\ 13 & 3.4523 & .28966 & 24.523 & .040779 & 7.1034 & .14078 & 4.69879 & 33.377 \\ 14 & 3.7975 & .26333 & 27.975 & .035746 & 7.3667 & .13575 & 4.99553 & 36.800 \\ 15 & 4.1772 & .23939 & 31.772 & .031474 & 7.6061 & .13147 & 5.27893 & 40.152 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Annualinterestrate & Annualdeposit & N:Planningperiod,alsothenumberofdeposits & Answer:accumulatedsum \\ \hline 10% & 5,000 & 8 & \\ \hline \end{tabular}