| Perlodic Deposit |
$? at the end of each year |
| Rate |
5.5% compounded annually |
| Time |
18 years |
| Financial Goal |
$140,000 |
a. Determine the periodic deposit.
b. How much of the financial goal comes from deposits and how much comes from interest?
a. In order to have $140,000 in 18 years, you should deposit $____ each year.
b. $_____ of the $140,000 comes from your deposits and $_____ comes from interest.