9.[HW] To save for future development, a company makes a deposit into a fund that earns interest at 6.45% compounded semi-annually. If the balance after 8 years needs to be $800,000, how much must be deposited at the end of each year?

please draw timeline as given below in example and also make calculations using Financial calculator. Thanks for solution though.

U 1130 Term Test 1 Spring 2021 Solution 230% + Intention: 1. Distinguish between types of annuities based on term, payment date, and conversion period. 2. Compute future value, present value, payment, the number of periods, and interest rate for ordinary simple annuities. 6. [HW] For the last five years, Clark has made deposits of $500 at the end of every three months earning interest at 6% compounded quarterly. If he leaves the accumulated balance in an account earning 8% compounded monthly, what will the balance be in Clark's account at the end of another ten years? 87.0. m. 6 % c . q t 's n . ... .. . Fv. n = 120 PV2 I VZ ENG 11:53 AM 2021-02-20 9 X w P Type here to search HOMI