Question: Please show steps! Find the periodic payment R reqired to accumulate a sum of S dollars over tyears with interest earned at the rate of

Please show steps! Find the periodic payment R reqired to accumulate a Please show steps!

Find the periodic payment R reqired to accumulate a sum of S dollars over tyears with interest earned at the rate of r% year compounded m times a year. Round your answer to the nearest cent. S= 20,000, r= 4, t= 7, m = 4 a. R=$565.14 b. R- $622.49 c. R- $585.01 d. R S646.02 A city has $2.9 million worth of school bonds that are due in 17 years and has establishing a sinking fund to retire this debt. If the fund earns interest at the rate of 4%/year compounded annually, what amount must be deposited annually in this fund? Round your answers to two decimal places a. $124,302.92 b. $120,983.19 c. $124,004.98 d. $120,747.2 e. $122,375.71

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