Danielle W.

asked • 07/18/17

Determine the periodic deposit

Determine the periodic deposit. Round up to the nearest dollar. 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: 4.25% compounded quarterly
Time: 5 years
Financial Goal: $70,000

$3496; $69,920 from deposits and $80 from interest

$2351; $47,020 from deposits and $22,980 from interest

$3160; $63,200 from deposits and $6800 from interest

$3764; $37,640 from deposits and $32,360 from interest

1 Expert Answer

By:

Walter B. answered • 07/19/17

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