Calculate the amount that must be invested at the end of each year at 9.8% compounded annually

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Calculate the amount that must be invested at the end of each year at 9.8% compounded annually in order to accumulate $580,000 after:(Do not round intermediate calculations and round your final answers to 2 decimal places.)

a.35 years. $

b.40 years. $

In each case, also determine what portion of the $580,000 represents earnings on the annual investments.(Round your intermediate calculations and final answers to 2 decimal places.)

a.Earnings portion $

b.Earnings portion $

Posted Date: May 18, 2024 04:08 PM

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Calculate the amount that must be invested at the end of each year at 9.8% compounded annually

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