How much money should be deposited annually in a bank account for five years if you wish to withdraw ​$4,000 each year for three​ years, beginning five years after the last​ deposit? The interest rate is 5​% per year. The annual deposit amount should equal _____

Suppose you start saving for retirement when you are 45 years old. You invest $5,200 the first year and increase this amount by 2% each year to match inflation for a total of 15 years. The interest rate is 7% per year. How much money will you have saved when you are 60 years old? Click the icon to view the interest and annuity table for discrete compounding when i = 2% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. When you are 60 years old, you will have saved $. (Round to the nearest dollar.)

You borrow $20,000 to purchase a car and will repay the loan in uniform monthly payments for the next 48 months. The first payment is due one month after the purchase of the car. If the interest rate is 1% per month, determine the amount of your monthly car payment. Assuming you make each payment as scheduled, how much total interest will you pay over the four-year period?

The nominal interest rate is 10​% compounded semiannually. What amount will need to be deposited every six months to be able to have enough money to pay three annuity payments of $10,000 for three years beginning at the end of year​ seven? The deposits begin now and continue every six months until six deposits have been made. The amount to be deposited every six months is ___.