Question
1A: If Clyde saves $981 each quarter for the next 13 years with his first savings deposit made today and subsequent deposits made at the
1A:
If Clyde saves $981 each quarter for the next 13 years with his first savings deposit made today and subsequent deposits made at the beginning of each quarter, then how much will he have at the end of year 13 assuming that the interest rate is 11.87%?
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.
Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
1B:
Sarah plans to start college in 22 years and would like to have $270,241 saved when she begins. She plans to make equal incremental savings deposits at the beginning of each semiannual period for 22 years starting today. How much must she save each semiannual period to reach her goal if the interest rate is currently 11.42% per year?
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.
Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
1C:
How many years will it take Ester to save $70,202 if she starts saving today and makes equal savings deposits of $2,941 at the beginning of each quarter? Ester can earn 6.58% per year on her investments.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.
Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
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