$3,656.98 $3,378.49 You have decided to deposit your scholarship money ($3,000) in a savings account paying 8% Interest, compounded quarterly Thirty months later, you decide to go to the mountains rather than school and you close out your account. How much money will you receive $3,378.50 $5,434.08 $3,247.30 You have been saving money for the last two years. You made deposits of $1,000 on January 1, 2018, and July 1, 2018, in a savings account paying 8% compounded semi-annually. On January 1,2019, the bank increased the interest rate paid on savings accounts to 9%, annual compounding. You made a third $1.000 deposit on April 1, 2019. How much will be in your account on January 1, 20207 $3,129.92 $3,424.66 $3,402.54 $3,447.89 $3,379.31 ears to figure 24 at will yoo sin and y You plan on working for 10 years and then leaving for the Alaskan "back country". You figure you can save $2,000 a year for the first 5 years and $4,000 a year for the last 5 years. In addition, your family has given you a $10,000 graduation gift. If you put the gift and your future savings in an account paying 4 percent compounded annually, what will your stake" be when you leave for the wilderness 10 years hence? $29,215 d. $34,845 b. $52,104 e. $49,647 c. $47,214 25. You are thinking about buying a car, and a local bank is willing to lend you $25,000 to buy the car. Under the terms of the loan, it will be fully amortized over five years (60 monthly payments and the nominal interest will be 6 percent. What would be the monthly payment on the loan? a. b. c. $500.00 $460.13 $444.89 d. e. $483.32 $479.98