Astros Co wanted to accumulate $3,650,000 by 2/1/20. To achieve that goal, Astros Co made the first of 6 equal annual deposits on 2/1/13. The deposits were placed into a fund that earns interest at 5%.
On 2/1/18, after making the 6th deposit (as determined above), Astros Co discovers that the amount needed has changed to $4,950,000, but that the $4,950,000 will not be needed until 2/1/24. So, Astros Co has decided that in order to achieve the desired total, a single deposit will be made to the fund on 2/1/21.
1) Determine the following items:
a) the amount of the deposit into the fund on 2/1/13. =486,725
b) the balance of the fund at 2/1/15, immediately after the 3rd deposit was made. =1,534,401
c) the balance of the fund at 2/1/21, immediately before the final deposit is to be made. =3,832,519
d) the amount of interest that will be earned from 2/1/15 through 2/1/21. =837,943
e) the balance of the fund on 2/1/21, immediately after the final deposit is to be made. =4,276,008
f) the amount of the final deposit, to be made on 2/1/21. =443,489
?Can you please explain how the answers are calculated