Question
1. You plan to deposit $3,000 today, $3,000 in one year and $3,000 in two years into an account earning 4.3% interest. What will the
1. You plan to deposit $3,000 today, $3,000 in one year and $3,000 in two years into an account earning 4.3% interest. What will the account balance be in 4 years? Round to the nearest dollar.
2. You decide to save $13,000 at the end of each year for the next 14 years. If your savings earn an annual interest rate of 2.6%, how much will you have saved up by the end of 14 years? Round to the nearest dollar.
3. You need to make annual withdrawals of $21,000 at the end of each year for the next 11 years. How much money must you have in the account today? The account pays 2.7% interest. Round to the nearest dollar.
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