Assignment - Managing Your Cash and Savings w let's use these fundamental concepts to answer questions involving several different situations. Periods 4.50% 5.00% 5.50% 7.50% 8.00% 8.50% 9.00% 7 1.3609 1.4547 Interest Factors 6.00% 6.50% 7.00% 1.5036 1.5540 1.6058 1.5938 1.6550 1.7182 1.6895 1.7626 1.8385 1.6590 1.7138 1.7701 1.8280 8 1.4071 1.4775 1.5513 1.4221 1.7835 1.9206 1.9926 1.8509 1.9990 9 1.5347 1.6191 1.7000 1.4861 1.9172 2.0839 2.1719 10 1.5530 1.6289 1.7908 1.8771 1.9672 2.0610 2.1589 2.2610 2.3674 11 1.6229 1.8021 1.8983 1.9992 2.1049 2.2156 2.3316 2.4532 2.5804 12 1.6959 1.7103 1.7959 1.8856 1.8832 2.0122 2.1291 2.2522 2.3818 2.5182 2.6617 2.8127 13 1.7722 1.9868 2.1329 2.2675 2.4098 2.5604 2.7196 2.8879 3.0658 14 1.8519 1.9799 2.0961 2.2609 2.4149 2.5785 2.7524 2.9372 3.3134 3.3417 15 1.9353 2.0789 2.2114 2.3966 2.5718 2.7590 2.9589 3.1722 3.3997 3.6425 16 2.0224 2.1829 2.3553 2.5404 2.7390 2.9522 3.1808 3.4259 3.6887 3.9703 17 2.1134 2.2920 2.4848 2.6928 2.9170 3.1588 3.4194 3.7000 4.0023 4.3276 18 2.2085 2.4066 2.6215 2.8543 3.1067 3.3799 3.6758 3.9960 4.3425 4.7171 19 2.3079 2.5270 2.7656 3.0256 3.3086 3.9515 4.3157 4.7116 5.1412 3,6165 3.8697 20 2.4117 2.6533 2.9178 3.2071 3.5236 4.2479 4.6610 5.1120 5.6044 21 2.5202 2.7860 3.0782 3.3996 3.7527 4.1406 4.5664 5.0338 5.5466 6.1088 22 2.6337 2.9253 3.2475 3.6035 4.4304 4.9089 5.4365 6.0180 6.6586 3.9966 4.2564 23 2.7522 3.0715 3.4262 3.8197 4.7405 5.2771 5.8715 6.5296 7.2579 Maria On Maria's first birthday, her parents deposited $7,000 into a savings account that earns a fixed rate of 4.00% and compounds interest annually. How much money will Maria's account have accumulated by her 20th birthday? (Hint: Round your answer to the nearest dollar) $14,748 O $10,361 515,338 $70,000 What If Scenario 1 What would have been the balance in Maria's account if her parents had waited until her 10th birthday to make their initial deposit into the same account? O $14,748 $10,361 $15,338 O $70,000 What If Scenario 2 If Mania's parents wanted to accumulate an account balance of $15,000 by her 20th birthday, then how much should they have placed on deposit on her first birthday 56,846 57,120 51,500 510,134