E$11-10($Algo$)$ Computing Future Value of Annual Deposits $[$LO $11-$S$1]$

You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $$30,800$ at the end of each year for the next $10$ years. You expect to earn $7$ percent each year.

Required:

Determine how much you will have saved after $10$ years.

Determine the amount saved if you were able to deposit $$33,300$ each year.

Determine the amount saved if you deposit $$30,800$ each year, but with $11$ percent interest.

$($Future Value of $$1,$Present Value of $$1,$ Future Value Annuity of $$1,$ Present Value Annuity of $$1.)$

Note: Use appropriate factor$($s$)$ from the tables provided

Complete this question by entering your answers in the tabs below.

Requifred $1$

Required $2$

Determine how much you will have saved after $10$ years.

Note: Round your final answer to the nearest whole dollar.

Balance in the Savings Account