How much money should be deposited each year for 13 years if

How much money should be deposited each year for 13 years if you wish to withdraw $315 each year for five years, beginning at the end of the 14th year? Let i =10 per year.

Present value (PV) of withdrawals at beginning of year 14 ($) = 315 x P/A(10%, 5) = 315 x 3.7908** = 1,194.10

If required annual deposit be D, then

D x F/A(10%, 13) = $1,194.10

D x 24.5227** = $1,194.10

D = $1,194.10 / 24.5227 = $48.69

**From P/A and F/A Factor tables

How much money should be deposited each year for 13 years if you wish to withdraw $315 each year for five years, beginning at the end of the 14th year? Let i =1

How much money should be deposited each year for 13 years if

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