Question
1. Assume Jed Gerbil invested $ 14,686 into an account exactly two years ago. The account has an interest rate of 9.2 % p.a. How
1. Assume Jed Gerbil invested $ 14,686 into an account exactly two years ago. The account has an interest rate of 9.2 % p.a. How much does Jed have in his account today (that is, exactly two years after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84). 2. Your account pays interest at 7 percent p.a.. You deposit $ 23,239 in it today. You must have exactly $ 54,682 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to ensure this? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
3. You deposit $ 57,426 in your account today. You make another deposit at t = 1 of $ 71,898 . How much will there be in your account at the end of year 2 if the interest rate is 6 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
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