Kevin deposits $856.89 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $75,000 in 16 years.How much of the $75,000 wilI Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, ifnecessary.Formulas中Answer(How to Enter)KeypadPresent Value FormulaKeyboard ShortcutsAPV =(1+)ntAnnuity Formula for Finding Future ValuentFV = PMT .Annuity Formula for Finding Payment AmountsPMT == FV .ntPrevNext

In this problem we have to calculate how much is deposit and how much is interest.

sits $856.89 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $75 of the $75,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the v to Enter) Present Value Formula Key A PV = %3D nt (1+)" Annuity Formula for Finding Future Value

sits $856.89 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $75 of the $75,000 will Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the v to Enter) Present Value Formula Key A PV = %3D nt (1+)" Annuity Formula for Finding Future Value

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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