Question: Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns. What is the amount of the

Using the appropriate interest table, provide the solution to each of the following four questions by computing the unknowns.

What is the amount of the payments that Steve Winslow must make at the end of each of 8 years to accumulate a fund of $97,100 by the end of the 8th year, if the fund earns 8% interest, compounded annually?

(final answer to 0 decimal places, e.g. 458,581.)

Payment at the end of each year $ 9,128

Collapse question part (b) Newman Hitchcock is 38 years old today and he wishes to accumulate $501,000 by his 61st birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 38th through his 60th birthdays. What annual deposit must Newman make if the fund will earn 8% interest compounded annually?

Annual deposit $

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