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Mark Welsch deposits $7,500 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $7,500 plus earned interest must remain
Mark Welsch deposits $7,500 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $7,500 plus earned interest must remain in the account 3 years before it can be withdrawn. How much money will be in the account at the end of 3 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)
Mark Welsch deposits $7,500 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $7,500 plus earned interest must remain in the account 3 years before it can be withdrawn. How much money will be in the account at the end of 3 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value Table Factor Total Accumulation Kelly Malone plans to have $46 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her plan for one and one-half years, how much will be accumulated in the account on the date of the last deposit? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" to 4 decimal places.) Periodic Cash Flow Table Factor Total Accumulation Table Values are Based on: n II i = Dave Krug finances a new automobile by paying $6,200 cash and agreeing to make 20 monthly payments of $460 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Factor Present Value of Loan Table Values are Based on: n = i = Present Value of Loan Cash Down Payment Cost of the Automobile =Step by Step Solution
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