Suppose you need $50,000 ten years from now. you plan to make seven equal annual deposits with the first deposit to be made three years from today (e. g. t=3) in an account that yields 11% compounded annually. thus, your last deposit will be made at t=9. the money will remain in your account for one more year; it will continue to accrue interest, but you will not make at deposit at t=10. you will, however, withdraw $50,000 at that time. how much should each annual deposit be? (you might want to draw a time line to be sure you understand when the deposits are made.)

The installment will be for  $ 4,148.010

Explanation:

There will be 7 payment starting at the beginning of the third year therefore, an annuity-due. Then It will capitalize one more year.

Thus, the annuity future value will be the 50,000 discounted one year.

Nominal: 50,000.00

time: 1 year

rate: 11% = 11/100 =0.11

PV= 45,045.0450

Then we need to solve for the PMT of this annuity:

PV:  $ 45,045

time:   7 years

rate: 11% = 11/100 =0.11

C  $ 4,148.010

its kinda hard to answer this when we dont have all the information that we need.

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