?) You would like to have ?$33 comma 00033,000 in 1515 years. Toaccumulate this amount you plan to deposit each year an equal sumin the? bank, which will earn 99 percent interest compoundedannually. Your first payment will be made at the end of the year.a. How much must you deposit annually to accumulate this? amount?b. If you decide to make a large? lump-sum deposit today instead ofthe annual? deposits, how large should this? lump-sum deposit? be?(Assume you can earn 99 percent on this? deposit.) c. At the end of66 years you will receive ?$12 comma 00012,000 and deposit this inthe bank toward your goal of ?$33 comma 00033,000 at the end of1515 years. In addition to this? deposit, how much must you depositin equal annual deposits to reach your? goal? (Again assume you canearn 99 percent on this? deposit.)
