Periodic Deposit ____at the end of every three months Rate 7% compounded quarterly Time 7 years Financial Goal $20,000 a. Determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? a. In order to have $20,000 in 7 years, you should deposit ____ each period. (Do not round until the final answer. Then round up to the next dollar.) b. ____of the $20,000 comes from your deposits and _____ comes from interest. (Use the answer from part a to find this answer. Round to the nearest dollar as needed.) Please elaborate and explain the calculations.. thanks ATTACHMENT PREVIEW

Periodic

Deposit ____at the end of every three months

Rate 7% compounded quarterly

Time 7 years

Financial Goal $20,000

a. Determine the periodic deposit.

b. How much of the financial goal comes from deposits and how much comes from interest?

a. In order to have $20,000 in 7 years, you should deposit ____ each period.

(Do not round until the final answer. Then round up to the next dollar.)

b. ____of the $20,000 comes from your deposits and _____ comes from interest.

(Use the answer from part a to find this answer. Round to the nearest dollar as needed.)

Please elaborate and explain the calculations.. thanks ATTACHMENT PREVIEW