Question
1. Derek will deposit $8,274.00 per year for 21.00 years into an account that earns 12.00%, The first deposit is made next year. How much
1. Derek will deposit $8,274.00 per year for 21.00 years into an account that earns 12.00%, The first deposit is made next year. How much will be in the account 39.00 years from today?
2. Derek will deposit $5,485.00 per year for 13.00 years into an account that earns 5.00%, The first deposit is made next year. He has $12,492.00 in his account today. How much will be in the account 41.00 years from today?
3. Derek will deposit $4,934.00 per year for 10.00 years into an account that earns 6.00%. Assuming the first deposit is made 4.00 years from today, how much will be in the account 37.00 years from today?
4. What is the value today of receiving $2,702.00 per year forever? Assume the first payment is made next year and the discount rate is 14.00%.
5. What is the value today of receiving $2,865.00 per year forever? Assume the first payment is made 9.00 years from today and the discount rate is 6.00%.
6. Suppose you deposit $2,152.00 into an account today that earns 6.00%. In 7.00 years the account will be worth $________.
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