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ou need to accumulate $10,000. To do so, you plan to make deposits of $1,050...

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Accounting

ou need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the first payment being made a year from today - into a bank account that pays 11.44% annual interest. Your last deposit will be less than $1,050 if less is needed to round out to $10,000.

1. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number. year(s)

2. How large will the last deposit be? Round your answer to the nearest cent.

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