Question
1. Compute the future value in year 9 of a $2,400 deposit in year 1, and another $1,900 deposit at the end of year 5
1. Compute the future value in year 9 of a $2,400 deposit in year 1, and another $1,900 deposit at the end of year 5 using a 9 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
2.Assume that you contribute $230 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $460 per month for another 30 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
3.Whats the interest rate of a 5-year, annual $4,200 annuity with present value of $16,000? (Use a time value of money calculator or a spreadsheet. Round your answer to 2 decimal places.)
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