Question: how to solve? Exercise 5-12 (Algo) Future value; solving for annuities and single amount [L.05-4, 5-9] Jahn Rider wants to accumulate $120,000 to be used

how to solve? how to solve? Exercise 5-12 (Algo) Future value; solving for annuities and

Exercise 5-12 (Algo) Future value; solving for annuities and single amount [L.05-4, 5-9] Jahn Rider wants to accumulate $120,000 to be used for his daughter's collepe education. He would like to have the amount avaiable on December 31,2026 . Assume that the funds will accumulate in a certificate of deposit paying 8% interest compounded annually. (FY of S1. PV of S1, EVA of 51, PVA of 51, EVAD of S1 and PVAD of S1) (Use appeopriate factor(s) from the tabies provided.) Answer each of the following independent questions. Required: 1. If John were to deposit a single amount, how much would he have to invest on December 31, 2021? 2. If John were to make five equal deposits on each December 31, beginning a year later, on December 31, 2022, what is the required amount of each deposit? 3. If John were to make five equal deposits on each December 31, beginning now, on December 31, 2021, what is the required amount of each deposit? (For all requirements, Round your final answers to nearest whole dollar amount.)

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