FIN 301-UZ Basic Financial Management (Spring 2020) Homework: Chapter 5 Homework Save 17 of 18 (5 complete) HW Score: 12.5%, 4.5 of 36 pts Score: 0 of 3 pts Problem 5-54 (similar to) Question Help (Complex present value) You would like to have $18,000 in 9 years. To accumulate this amount you plan to deposit each year an equal sum in the bank, which will earn 9 percent interest compounded annually. Your first payment will be made at the end of the year, a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump sum deposit today instead of the annual deposits, how large should this lump sum deposit be? (Assume you can earn 9 percent on this deposit.) c. At the end of 4 years you will receive 59,000 and deposit this in the bank toward your goal of $18,000 at the end of 9 years. In addition to this deposit, how much must you deposit in equal anual deposits to reach your goal? Again assume you can earn 9 percent on this deposit) a. How much ist you deposit annually to accumulate 548,000 in 9 years? (Round to the nearest cent)