Question: Complex present value) You would like to have $55.900 in 14 year. To accumulate this amount, you plan to deposit each year an equal sum

Complex present value) You would like to have $55.900 in 14 year. To accumulate this amount, you plan to deposit each year an equal sum in the bank, which will earn 7 percent Interest compounded annually Your first payment will be made at the end of the year 3. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump sum deponit today instead of the annual deposits, how large should this lump-sum deposit be? Assume you can earn percent on this depost) c. Al the end of 5 years you will receive 311,000 and deposit this in the bank toward your goal of $55,000 at the end of 14 years. In addition to this deposit, how much must you depost in equal annual deposits to reach your goal? (Again assume you can eam 7 percent on this deposit.) a. How much must you deposity to come $55.000 in 14 years? Round to the nearest cent)

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