A. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest?
Periodic Deposit
Rate
Tire Financial Goal
$? at the end of each year 14% compounded annually 15 years
$140,000
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a. The periodic deposit is $ 6992.
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
b. $ 104880 of the $140,000 comes from deposits and $ 35120 comes from interest.
(Use the answer from part (a) to find these answers. Round to the nearest dollar as needed