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Assume that the time period for each scenario is 5 years, and the interest rate is 3 % . A . Jamie Lee needs to
Assume that the time period for each scenario is years, and the interest rate is
A Jamie Lee needs to save a total of $ in order to get started in her cupcake caf venture. She is presently depositing $ a
year in a regular savings account. Calculate the future value of these deposits.
B Assuming that she leaves her emergency fund of $ untouched, how much will her emergency fund be worth?
C What if Jamie Lee had a relative that could give her money now that she could invest? What is the minimum amount she would
need now to ensure that she had $ when she wanted to open the cupcake caf
D As Jamie Lee is planning ahead for operating the cupcake caf she calculates that she will need $ per year in salary. What
is the value of five years of salary when the cupcake caf opens? Assume that she will take the salary as a onetime payment each
year.
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