Question: Required Lump - Sum Payment To complete your last year in business school and then 9 0 through law school, you will need $ 2

Required Lump-Sum Payment
To complete your last year in business school and then 90 through law school, you will need $25,000 per year for 4 years, starting next year (that is, you will need to withdrair the first $25,000 one year frum today). Your uncle offers to put you through school, and he will depoilt in a bank paying 9.515 inberest a sum of money that is suffident to provide the four papments of $25,000 each. His depoit, will be made today. Do not round intermediste calculations. Round pour answers to the nearest cent. If your answer is 2ero, enber "O".
a. How large must the deposit be?
5
b. How mach will be in the account immediately after you maloe the frit withdrawal? After the last withdrawal?
Afer the first withdrowal: $
Aher the iast whdrawa:
Required Lump - Sum Payment To complete your last

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