You want to receive $725 at the end of each year for 4 years. Interest is 7.9% compounded annually. (a) How much would you have to deposit at the beginning of the 4-year period? (b) How much of what...


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You want to receive $725 at the end of each year for 4 years. Interest is 7.9% compounded annually.<br>(a) How much would you have to deposit at the beginning of the 4-year period?<br>(b) How much of what you receive will be interest?<br>(a) The deposit is S<br>(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)<br>(b) The interest is $<br>(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)<br>

Extracted text: You want to receive $725 at the end of each year for 4 years. Interest is 7.9% compounded annually. (a) How much would you have to deposit at the beginning of the 4-year period? (b) How much of what you receive will be interest? (a) The deposit is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Jun 06, 2022
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