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Beginning on January 1, 2020, 5 equal deposits are to be made in a fund. Required: Using the appropriate tables, determine the equal deposits if interest at 10% is compounded annually and if $200,000 must be in the fund on (Click here to access the PV and FV tables to use with this problem.) Round your answers to two decimal places. January 1, 2024 $ 27,707.38 January 1, 2025 $ 29,781.36

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TomShelby

Answer:

Explanation:

[tex]FV \div \frac{(1+r)^{time} -1}{rate} = C\\[/tex]  

FV  $200,000.00  

time 5 years

rate 0.1% = 10/100 = 0.10

[tex]200000 \div \frac{(1+0.1)^{5} -1}{0.1} = C\\[/tex]  

C  $ 32,759.496  

The installment will generate 10% interest overtime and provide with a 200,000 dollar count after six years

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