PLEASE USE EXCEL
On December parents decide to accumulate $ to be used for their child's college education. The parents would like to have the amount available on December Assume that the funds will accumulate in an account paying interest compounded annually.
Answer each of the following independent questions.
Required:
If they were to deposit a single amount, how much would they have to invest on December
If they were to make five equal deposits on each December beginning on December what is the required amount of each deposit?
If they were to make five equal deposits on each December beginning on December what is the required amount of each deposit?
Note: For all requirements, use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
