Please answer fast i give you upvote. A saver plans to make 25 deposits of 100 at the end of eachyear. If the interest rate were 6% effective per annum, hewould accumulate a fund of amount F on the date of the lastpayment.The saver makes the first 10 deposits of 100. However, theaccount only credits an effective annual interest rate of 5%.Therefore, the saver determines that he must increase eachof the remaining 15 deposits to X so that he can accumulatethe desired fund of F. Assuming that the fund continues toearn the effective annual interest rate of 5%, find X.a) 113 b) 123 c) 133 d) 143 e) 153

The concepts of Future Value (FV), Present Value (PV), and PMT (Periodic Payment) are fundamental in…

Answered: the desired fund of F. Assuming that…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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the desired fund of F. Assuming that the fund continues to earn the effective annual interest rate of 5%, find X. a) 113 b) 123 c) 133 d) 143 e) 153