Question 1 If you deposit $75,226 annually at the end of every year in a...
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Accounting
Question 1
If you deposit $75,226 annually at the end of every year in a bank account paying 10% annually, how much would you have saved at the end of six years? Use the future value or present value tables in Appendix G to calculate your answer. Round your answer to the nearest one dollar.
Question 2
If you want to have $215,668 in ten years, how much do you need to deposit in a bank account today? Assume that the annual interest rate is 11% compounded annually. Use the future value or present value tables in Appendix G to calculate your answer. Round your answer to the nearest one dollar.
PLEASE provide the explanation too, thank you!
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