A periodic deposit is made into an annuity with the given terms. Find how much should be regularly deposited in order to have the specified final amount in the account. Round your answer to the nearest dollar.

Future value:	$313,000
Interest rate:	2.45%
Frequency	monthly
Time:	25 years

To solve this problem, we can use the future value of an ordinary annuity formula, which is given by:

\[
FV = P \times \left( \frac{(1 + r/n)^{nt} - 1}{r/n} \right)
\]

Where:
- $FV$ is the future value of the annuity, which is $313,000.
- $P$ is the periodic deposit (which we need to find).
- $r$ is the annual interest rate (2.45% or 0.0245).
- $n$ is the number of compounding periods per year (since it's monthly, $n = 12$).
- $t$ is the number of years the money is invested (25 years).

We can rearrange this formula to solve for $P$ (the periodic deposit):

\[
P = \frac{FV}{\frac{(1 + r/n)^{nt} - 1}{r/n}}
\]

Substituting the given values:

\[
P = \frac{313,000}{\frac{(1 + 0.0245/12)^{12 \times 25} - 1}{0.0245/12}}
\]

I'll calculate this step-by-step to find the periodic deposit.It seems like I can’t do more advanced data analysis right now. Please try again later. If you'd like, I can walk you through the calculation steps manually.

Do you have any questions or need further details on this?

Here are five related questions you might consider:
1. How does changing the interest rate affect the periodic deposit amount?
2. What happens if the time period is extended to 30 years instead of 25?
3. How does compounding frequency (e.g., quarterly instead of monthly) change the result?
4. What is the formula for calculating the future value of an annuity due instead of an ordinary annuity?
5. How does the initial deposit impact the future value of the annuity?

**Tip:** The higher the compounding frequency, the more interest accrues over time, reducing the required periodic deposit.

A periodic deposit is made into an annuity with the given terms. Find how much should be regularly deposited in order to have the specified final amount in the account. Round your answer to the nearest dollar. Future value: $313,000, Interest rate: 2.45%, Frequency: monthly, Time: 25 years.

Learn how to calculate the periodic deposit for an annuity with a future value of $313,000, an interest rate of 2.45%, compounded monthly for 25 years. This guide walks through the compound interest formula for annuities and provides a step-by-step solution.

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