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1. Ken recently got a raise. He decided to save all the extra money in a special account. His raise amounts to $150 every 2
1. Ken recently got a raise. He decided to save all the extra money in a special account. His raise amounts to $150 every 2 weeks (26 times per year). The account earns 5.2% annually compounded every 2 weeks. He opened the account at the time of the first deposit so each deposit is made at the start of the two week period. It has been 11 weeks and Ken is thinking about his balance. Below is a table he has made to analyze his account balance after the first 5 deposits. Complete the table.- March 19th Analysis of Account Deposit Number of Compounding Number Deposit Date Periods 12 January 12 Contribution of Deposit to Current Balance 24 January 152 34 January 292 42 February 124 e 52 February 26 62 March 122 2. Jen started saving $1,000 every quarter 5 years ago in an account earning 4% compounded quarterly. She has just made her 20th deposit. There was only one quarter when she could not make her savings goal. The second quarter of this, her fifth, year she had some unexpected expenses and was not able to make what would have been her 18th deposit. Her Mom surprised her with money so the annuity continued. Jen's current balance is $22,019. How much of that is due to her Mom's gift? [Of course it is more than the $1,000 her Mom gave her.] Justify your answer mathematically. +
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