Ms. Namura wants to have 45 million on her 65th birthday. She asks you to tell her

Question:

Ms. Namura wants to have ¥45 million on her 65th birthday. She asks you to tell her how much she must deposit on each birthday from her 58th to 65th, inclusive, in order to receive this amount. Assume the following interest rates:
a. 8% per year
b. 12% per year
Required:
Calculations of present and for single payments and for annuities, to make the exercises more realistic, we do no give specific guidance with each individual exercise.

Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...