Please help?!

This assignment covers section 7.2. Answer the questions below, making sure to show your work. You may type your work and solutions directly into the text box that is available OR you may upload your work done on paper. Be sure to number your work and write Iegibly! The assignment will be graded using the rubric that is within the assignment. 1) In 1980 the ination rate was 11.33%. If an item cost $100 in 1980 and the inflation rate remained steady, what would the item cost today (2020)? 2) You have $9,000 that you plan to invest in a compound-interest-bearing account. Your investment agent advises you that you can invest the money at 8% compounded daily for four years or you can invest the money at 8.25% compounded monthly for four years. Which investment should you choose to receive the most interest? How much more interest will you receive? 8) Suppose that a certain make of automobile depreciates 15% each year. Find the current market value of the automobile if it is 5 years old and its original value was $40,000. 4) Find the future value for an account in which you deposit $12,800 for 130 days at 2.45% if it is compounded daily. 5) Stanley started working at a home improvement center when he was 17 years old. His parents talked to him about how important it was to start saving for retirement, so he decided to make weekly deposits of $25 into a 401 (k) plan that paid 5.2%. If Stanley continues to make these deposits for the next 10 years, how much money will he have in the retirement account? How much money did Stanley deposit over the 10 years and how much interest did he earn? 6) Tommy wants to be able to pay cash for a vehicle in five years. He has done some research and believes that if he has $25,000 at that time, he should be able to make the purchase and not have to take out a loan. He nds a bank that will pay 5.25% interest compounded quarterly. How much will he need to deposit into this account quarterly to make his purchase? How much money does he end up depositing over time? How much interest did he earn? 7) Laura contributes $135 per month to a payroll deduction 401(k) plan at work. She averages 8.9% per year compounded monthly. How much should she have in the account in 12 years? How much did she deposit into the account overtime? How much interest did she earn

Answer rating: 100% (QA)

The Answer is in the image, click to view ... View the full answer