1. Your goal is to have $10,000 in your bank account by the end of eight years. If the interest rate remains constant at 10% and you want to make annual identical deposits, what amount will you have to deposit into your account at the end of each year to reach your goal?$787.00$961.88$874.44$612.112. If your deposits were made at the beginning of each year rather than an at the end, what is the amount your deposit would change by if you still wanted to reach your financial goal by the end of eight years?$75.52$99.38$67.58$79.50

1). Annual deposit amount is calculated using following equation Annual deposit = (FV×r)(1+r)n-1…

Answered: 1. Your goal is to have $10,000 in your…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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1. Your goal is to have $10,000 in your bank account by the end of eight years. If the interest rate remains constant at 10% and you want to make annual identical deposits, what amount will you have to deposit into your account at the end of each year to reach your goal?

$787.00
$961.88
$874.44
$612.11

2. If your deposits were made at the beginning of each year rather than an at the end, what is the amount your deposit would change by if you still wanted to reach your financial goal by the end of eight years?

$75.52
$99.38
$67.58
$79.50

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