7) You want to buy a house within 3 years, and you are currently saving for the down payment You plan to save $10,000 at the end of the first year, and you anticipate that your annual savings will increase by 15 annually thereafter Your expected annual return is 10 How much will you have for a down payment at the end of Year 3 Do not round intermediate calculations Round your answer to the nearest cent You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months You will then make no more deposits If the bank pays 4 nominal interest, compounded semiannually, how much will be in your account after 3 years Do not round intermediate calculations Round your answer to the nearest cent $ One year from today you must make a payment of $13,000 To prepare for this payment, you plan to make two equal quarterly deposits (at the end of Quarters 1 and 2) in a bank that pays 4 nominal interest compounded quarterly How large must each of the two payments be Do not round intermediate calculations Round your answer to the nearest cent $

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7) You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $10,000 at

You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $10,000 at the end of the first year, and you anticipate that your annual savings will increase by 15% annually thereafter. Your expected annual return is 10%. How much will you have for a down payment at the end of Year 3? Do not round intermediate calculations. Round your answer to the nearest cent.

You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 4% nominal interest, compounded semiannually, how much will be in your account after 3 years? Do not round intermediate calculations. Round your answer to the nearest cent.

$
One year from today you must make a payment of $13,000. To prepare for this payment, you plan to make two equal quarterly deposits (at the end of Quarters 1 and 2) in a bank that pays 4% nominal interest compounded quarterly. How large must each of the two payments be? Do not round intermediate calculations. Round your answer to the nearest cent.

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