Question: Explain and show how to solve. Also how do u know if its PV or FV on Q.12 12. Linda Ogleby wants to accumulate $40,000

Explain and show how to solve.

Also how do u know if its PV or FV on Q.12

12. Linda Ogleby wants to accumulate $40,000 to use for an around the world trip. She plans to accumulate the desired amount by depositing $5,500 annual-year-end payments into an account at the National Bank which pays 4% interest, compounded annually. 1. Compute the account balance at the end of the sixth year. 2. Compute the amount of each payment that Linda must make at the end of each of the six years to accumulate the $40,000. how each of 2022. If a 13. At the end of two years, what will be the balance in a savings account paying 6% annually if $25,000 is deposited today? The future value of one at 6% for one period is 1.06.

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