Question: Answer should be $54,362.99. Please provide work on how to arrive at that. 1. You want to establish a savings account to fund a $100,000

 Answer should be $54,362.99. Please provide work on how to arrive

Answer should be $54,362.99. Please provide work on how to arrive at that.

1. You want to establish a savings account to fund a $100,000 expense, due 13 years from today. If the account earns 4.8% annually, how large would a lump-sum deposit need to be (assuming no other deposits or withdrawals)

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