Ch 04: Assignment - Managing Your Cash and Savings Interest Factors 4.50% Periods 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 8.50% 9.00% 7 1.3609 1.4071 1.4547 1.5036 1.5540 1.6058 1.6590 1.7138 1.7701 1.8280 8 1.4221 1.4775 1.5347 1.5938 1.7182 1.7835 1.8509 1.9206 1.9926 1.6550 1.7626 9 1.4861 1.5513 1.6191 1.6895 1.8385 1.9172 1.9990 2.1719 2.0839 1.5530 10 1.6289 1.7000 1.7908 1.8771 1.9672 2.0610 2.1589 2.2610 2.3674 1.6229 11 1.7103 1.8021 1.8983 1.9992 2.2156 2.3316 2.4532 2.5804 2.1049 2.2522 12 1.6959 1.7959 1.8832 2.1291 2.3818 2.6617 2.8127 2.0122 2.1329 2.5182 2.7196 13 1.7722 1.8856 1.9868 2.2675 2.4098 2.5604 2.8879 3.0658 14 1.8519 2.0961 2.2609 2.5785 2.7524 2.9372 3.3134 3.3417 1.9799 2.0789 2.4149 2.5718 15 1.9353 2.2114 2.7590 2.9589 3.3997 3.6425 2.3966 2.5404 16 2.0224 2.1829 2.3553 2.7390 2.9522 3.1808 3.1722 3.4259 3.7000 3.6887 3.9703 4.3276 17 2.1134 2.4848 2.6928 3.1588 4.0023 18 2.2085 2.2920 2.4066 2.5270 2.6215 2.8543 2.9170 3.1067 3.3086 3.9960 4.3425 3.3799 3.6165 3,4194 3.6758 3.9515 4.2479 19 2.7656 3.0256 4.3157 4.7116 2.3079 2.4117 4.7171 5.1417 5.6044 20 2.9178 3.5236 4.6610 2.6533 2.7860 3.2071 3.3996 3.8697 4.1406 5.1120 5.5466 21 3.7527 6.1088 3.0782 3.2475 4.5664 4.9089 5.0338 5.4365 2.5202 2.6337 2.7522 22 3.6035 6.6586 4.4304 2.9253 3.0715 3.9966 4.2564 6.2180 6.5296 3.4262 23 3.8197 4.7405 5.2771 5.8715 7.2579 Yvette On Yvette's first birthday, her parents deposited $2,000 into a savings account that earns a fixed rate of 6.00% and compounds interest annually. How much money will Yvette's account have accumulated by her 20th birthday? (Hint: Round your answer to the nearest dollar.) Ch 04: Assignment - Managing Your Cash and Savings Yvette 5 On Yvette's first birthday, her parents deposited $2,000 into a savings account that earns a fixed rate of 6.00% and compounds interest annually. How much money will Yvette's account have accumulated by her 20th birthday? (Hint: Round your answer to the nearest dollar.) $20,000 O $6,051 $6,414 O $3,582 What If Scenario 1 What would have been the balance in Yvette's account if her parents had waited until her 10th birthday to make their initial deposit into the same account? $3,582 O $20,000 O $6,414 $6,051 What If Scenario 2 If Yvette's parents wanted to accumulate an account balance of $17.500 by her 20th birthday, then how much should they have placed on deposit on her first birthday? MacBook Pro Snehar DURI What If Scenario 2 If Yvette's parents wanted to accumulate an account balance of $17,500 by her 20th birthday, then how much should they have placed on deposit on her first birthday? O $5,784 $9,772 O $5,457 $1,750
