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Cakulate the future value of $2000 in a. Four years at an interest rate of 9% per year b. Eight years at an interest rate
Cakulate the future value of $2000 in a. Four years at an interest rate of 9% per year b. Eight years at an interest rate of 9% per year c. Four years at an interest rate of 18% per year. d. Why is the amount of interest eamed in part (a) less than half the amount of interest earned in part (b)? a. Four years at an interest rate of 9% per year The future value of $2.000 in 4 years at an interest rate of 9% per year is $ (Round to the nearest dolar) Your cousin is currently 13 years old. She will be going to college in 5 years. Your aunt and uncle would like to have $100000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 44 % per year, how much money do they need to put into the account today to ensure that they will have $100,000 in 5 years? The amount they need to put away today is $ (Round to the nearest cent) You are planning to invest $7.000 in an account eaming 6% per year for retirement a. If you put the $7,000 in an account at age 23, and withdraw it 48 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 38 years, how much will you have at the end? a If you put the $7.000 in an account at age 23, and withdraw it 48 years later, how much will you have? In 48 years you wOuld have $ Round to the nearest cent)
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