Question

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?ntArefoisno 13"-.. 18P[(1+r)'– 1]A=P=nt(5)Periodic Deposit: $? at the end of each yearRate: 8% compounded annuallyTime: 12 yearsFinancial Goal: $81,000O A. $4,269; $51,228 from deposits and $29,772 from interestO B. $4,866; $58,392 from deposits and $22,608 from interestC. $6,586; $79,032 from deposits and $1,968 from interestD. $7,616; $45,696 from deposits and $35,304 from interest

Answer 1

Answer:

The correct option is A

Step-by-step explanation:

The periodic deposit is calculated using the formula:

`\begin{gathered} A=(P\lbrack(1+(r)/(n))^(nt)-1\rbrack)/(((r)/(n))) \\ \\ \text{Given r = }0.08 \\ t\text{ = 12} \\ A\text{ = }81000\text{ Dollars} \\ n=1 \\ P=\text{?} \end{gathered}`

Using these, we have:

`\begin{gathered} P=4269 \\ 12* P=51228 \\ 81000-12* P=29772 \end{gathered}`