Question: this is a final please help! (Comprehensive problem) You would like to have $56,000 in 15 years. Fo accumulato this arnount you plan to deposit

this is a final please help!
this is a final please help! (Comprehensive problem) You would like to

(Comprehensive problem) You would like to have $56,000 in 15 years. Fo accumulato this arnount you plan to deposit an equal sum in the bank each year that will earn 8 percent interest compoundod ennualy. Your first paryment wall be made at the end of the year a. How much must you deposit annualy to accumulate this amount? b. If you decide to make a large lump-sum doposit today instoad of the annual deposits, how lage should this lump-sum doposit be? (Assume you can earn 8 percent on thil deposit) c. At the end of five years, you will recelve 510,000 and deposat this in the bank toward your goal of 556,000 at the end of year 15 . in addition to the lump-sum deposit. how much must you deposit in equal annual amounts, beginning in year 1 to reach your goal? (Again, assume you can earn 8 percent on your deposits) a. How much must you deposit anfually to accumulate this amount? (Round to the nearest cent) b. If you decide to make a large lump-sum deposat today instead of the annual depesits, how large should the lump-oum deposat be? (Round to the nearest cent) c. If you deposat $10,000 received at the end of five years in the bank, what will the amount grow to by the end of year 15 ? (Round to the nearest cent) In addition to the lump sum deposit how much must you depost in equal aninual amounts beginning in year 1 to reach your goar? (Round to the nearest cent)

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