Business Math Lesson 14: Back-to-back Annuities, part 5
Channel: Amy Goldlist
Date: 27/05/2021

You would like to save enough to take a 2 year sabbatical in 15 years.  Starting today, you make your first of 180 monthly deposits of $500 into an account that pays j12=9%. 
(a)   One month after making your last deposit you take your first of 24 monthly payments.  Find the size of these payments.
(b)   Two months after making your last deposit you take your first of 24 monthly payments.  Find the size of these payments.