To you reach a $5,000 goal in five years from now, your father offers to give you $500 now. you plan to get a part-time job and make five additional deposits, one at the end of each year for 5 years. your first deposit will be made at the end of the first year. if all the money is deposited in a bank that pays 7% interest, how much must your annual deposit be at the end of each year to get $5,000 at the end of 5 years?

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.