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For each of these situations, determine the savings amount. Use the time value of money tables in and Exhibit 1-A. Exhibit 1-B, and Exhibit 1-C
For each of these situations, determine the savings amount. Use the time value of money tables in and Exhibit 1-A. Exhibit 1-B, and Exhibit 1-C .. What would be the value of a savings account started with $425, earning 6 percent (compounded annually) after 6 years? (Round FV factor to 3 decimal places and final answer to the nearest whole dollar.) Future value b. Brenda Young desires to have $7,000 eight years from now for her daughter's college fund. If she will earn 6 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation. (Round PV factor to 3 decimal places and final answer to the nearest whole dollar.) Present value What would be the annual percentage yield for a savings account that earned $57 in interest on $750 over the past 365 days? (Enter your answer as a percent rounded to 1 decimal place.) Annual percentage yield %
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