To supplement your planned retirement in exactly 37 years , you estimate that you need to accumulate $ 200,000 by the end of 37 years from today.
You plan to make? equal, annual,? end-of-year deposits into an account paying 8% annual interest
A) How large must the annual deposits be to create the $ 200,000 fund by the end of 37 years ?
B) If you can afford to deposit only $ 770 per year into the? account, how much will you have accumulated by the end of 37 years ?