It is expected to withdraw 1000 yuan from the bank at the beginning of each year in five years with an annual interest rate of 10%. How much yuan should be deposited in the bank at the beginning of the period according to compound interest? Please tell us the calculation process At the beginning of the year, how many interest periods is the withdrawal from the bank? If the interest is not calculated, it is five cycles This is one of the review questions of engineering economics for the first class constructor in 2010. The textbook prompts that the standard answer is 3791. I am not sure about the number of interest periods. Generally, it is not calculated by year. This is calculated by the beginning of the year, mainly to determine the number of interest periods

It is expected to withdraw 1000 yuan from the bank at the beginning of each year in five years with an annual interest rate of 10%. How much yuan should be deposited in the bank at the beginning of the period according to compound interest? Please tell us the calculation process At the beginning of the year, how many interest periods is the withdrawal from the bank? If the interest is not calculated, it is five cycles This is one of the review questions of engineering economics for the first class constructor in 2010. The textbook prompts that the standard answer is 3791. I am not sure about the number of interest periods. Generally, it is not calculated by year. This is calculated by the beginning of the year, mainly to determine the number of interest periods

The withdrawal of annuity usually occurs at the end of the year. If you set the withdrawal at the beginning of the year, you can think that the interest period is 4, because the 1000 yuan you withdraw at the beginning of the first year is actually part of the amount you deposit at the beginning of the year
On the basis of this understanding, we can calculate the amount of money that should be deposited in the bank at the beginning of the period as follows:
P = 1000 / 10% * (1-1.1 ^ - 4) + 1000 = 4169.87 (yuan)
If it is withdrawn at the end of the year, it will be much easier
P = 1000 / 10% * (1-1.1 ^ - 5) = 3790.79 yuan