cclout03 cclout03

02-11-2022
Mathematics

Answered

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a. Use the appropriate formula to determine the periodic deposit.
b. How much of the financial goal comes from deposits and how much comes from interest?
Periodic Deposit
Rate
Time
Financial Goal
$? at the end of each month 7.75% compounded monthly 45 years $1,000,000
Click the icon to view some finance formulas.
a. The periodic deposit is $
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
I

a Use the appropriate formula to determine the periodic deposit b How much of the financial goal comes from deposits and how much comes from interest Periodic class=

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