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8.5 Homework Question 8, 8.5.17 Part 1 of 2 HW Score: 13.33%, 2 of 15 points Points: 0 of 1 Save 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 every three 4.5% compounded quarterly 5 years $15,000 months 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.) View an example Get more help. Clear all Check answer

          8.5 Homework
Question 8, 8.5.17
Part 1 of 2
HW Score: 13.33%, 2 of 15 points
Points: 0 of 1
Save
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 every three	4.5% compounded quarterly	5 years	$15,000
months
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.)
View an example
Get more help.
Clear all
Check answer

Show more…

8.5 Homework
Question 8, 8.5.17
Part 1 of 2
HW Score: 13.33%, 2 of 15 points
Points: 0 of 1
Save
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 every three 4.5% compounded quarterly 5 years $15,000
months
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.)
View an example
Get more help.
Clear all
Check answer

Added by Eric B.

Calculus: Early Transcendentals

James Stewart 8th Edition

Instant Answer

Solved by Expert Scott Stetson

Step 1

To determine the periodic deposit, we can use the formula for the future value of an ordinary annuity: FV = P * [(1 + r)^n - 1] / r Where: FV = Financial Goal = $15,000 P = Periodic Deposit (what we want to find) Show more…

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Question 8, 8.5.17 Part 1 of 2 HW Score: 13.33%, 2 of 15 points Points: 0 of 1 8.5 Homework 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: At the end of every three months Rate: 45% compounded quarterly Time: p years Financial Goal: $15,000 10 Click the icon to view some finance formulas a. The periodic deposit is s. Do not round until the final answer. Then round up to the nearest dollar as needed. View an example Get more help Clear all Check answer

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