Question: Problem 6-2 Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. Click here to view


Problem 6-2 Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. Click here to view factor tables What is the amount of the payments that Henry Winslow must make at the end of each of 10 years to accumulate a fund of $95,100 by the end of the 10th year, if the fund earns 10% interest, compounded annually? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 dec mal paces eg 458 581 Payment at the end of each year $ SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT Morgan Hitchcock is 39 years old today and he wishes to accumulate $487,000 by his 64th birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 39th through his 63th birthdays. What annual deposit must Morgan make if the fund will earn 10% interest compounded annually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Annual deposit $ SHOW SOLUTIONSHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT
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