You would like to save annually for buying a car 6 years from today. Suppose the first deposit is made today and the last deposit will be made 5 years from now. Assume the car will cost you $30,000 and your deposits earn you interest at 6% p.a, compounded annually

(a) What is your annual deposit amount?

(b) Instead of making annual deposits, you would like to make your deposit monthly and the bank is happy to pay your interest on a monthly basis. What is the APR that would make the bank indifferent to these two way of paying interest?

Why is $30000 FV not PV? Please explain how to distinguish PV and FV in detail because I dont know which is PV or FV in the question.

I know the meaning of PV and FV but I cannot distinguish which PV and FV are.