Question
18. Suppose the contribute $10 per week ($520 per year) into an interest-bearing account that earns 6% a year(compounded once per year). That's probably one
18. Suppose the contribute $10 per week ($520 per year) into an interest-bearing account that earns 6% a year(compounded once per year). That's probably one less pizza per week! But if you contribute faithfully each week into this account, how much money would you have saved through the compounding of interest by the end of 15 years? Based on the problem, What statement describes the question correctly?
A. The question is to find the equivalent present value of an annuity.
B. The question is to find the equivalent present value of a future value.
C. The question is to find the equivalent future value of an annuity.
D. The question is to find the equivalent future value of a present value.
Based on Question 18, If use factor method to solve the problem, which formula is correct?
Group of answer choices
A. F = P * (F/P, i, N)
B. F = A * (F/A, i, N)
C. A = P * (A/P, i, N)
D. P = F * (P/F, i, N)
Based on Question 18, What are the values for the variables in the formula you chose in the previous question?
Group of answer choices
A. P=$10, i%=6%/12, N=15*12
B. A=$520, i%=6%, N=15
C. A=$10, i%=6%, N=15*12
D. F=$10, i%=6%, N=15
Based on Question 18, How much money would you have saved at the end of 15 years? Choose the value closest to your result.
Group of answer choices
A. $910
B. $390
C. $7,800
D. $12,103.52
both are correct explain plz asap
dont answer by pen paper
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