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both questions please! A relative has promised to pay you $6100 today, and he will pay you additional payments every year for the next five
both questions please! A relative has promised to pay you $6100 today, and he will pay you additional payments every year for the next five years. Each year he will add $67.00 to the previous payment. (So, the payment in year 1 will equal $128.00 ). You decide to save every dollar you are given and will invest the money in an account paying 5.00% annual interest. How much money will you have accumulated in five years? Keep in mind that you will have six total cash flows to invest. Answer format: Currency. Round to: 2 decimal places. A student is trying to value an internship opportunity for the upcoming summer. The internship will last three months and pay her $2.269.00 at the end of each month she will also get a "signing" bonus at the beginning of the intecnsherf for * $ a $500.00. If the student can invest this money in an account that pays 9.00% APR with monthly compounding, what is the value of her account at the end of her intemship? Answer format: Currency Round to 2 decimal places
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