A. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest?
Periodic Deposit
$? at the end of each year
Time
Rate
4% compounded annually
15 years
Financial Goal
$140,000
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a. The periodic deposit is $
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
b.
of the $140,000 comes from deposits and $comes from interest.
(Use the answer from part (a) to find these answers, Round to the nearest dollar as needed.)