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please help me on these 2 questions! What amount of money must be deposited now at 4%, compounded annually, to achieve a lump sum of
please help me on these 2 questions! What amount of money must be deposited now at 4%, compounded annually, to achieve a lump sum of $450,000 in ten (10) years? a. $205,376 b. $208,436 c. $304,002 d. $369,158 Your Aunt Grace has left you a stipend of $125,000 per year, to be paid at the end of each year for the next ten (10) years. Since you do not need the money, you make arrangements to have the money deposited into your savings account at the Corrupt National Bank and earn six percent (6%) interest over that period of time, compounded semiannually. You agree not to withdraw any of the funds until you make a lump sum withdrawal at the end of the 10th year. What will be the amount of this withdrawal? a. $1,432,923 b. $1,647,599 c. $3,358,796 d. $4,598,199 What amount of money must be deposited now at 4%, compounded annually, to achieve a lump sum of $450,000 in ten (10) years? a. $205,376 b. $208,436 c. $304,002 d. $369,158 Your Aunt Grace has left you a stipend of $125,000 per year, to be paid at the end of each year for the next ten (10) years. Since you do not need the money, you make arrangements to have the money deposited into your savings account at the Corrupt National Bank and earn six percent (6%) interest over that period of time, compounded semiannually. You agree not to withdraw any of the funds until you make a lump sum withdrawal at the end of the 10th year. What will be the amount of this withdrawal? a. $1,432,923 b. $1,647,599 c. $3,358,796 d. $4,598,199
please help me on these 2 questions!
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