Question 11

1.You deposit $1,132 in an interest-bearing bank deposit today. The interest rate is 12% per year. Interest is accrued yearly. How much money will you have after 19 years?

Enter your answer in terms of dollars, without the dollar sign or commas, and rounded to the nearest cent. That is, for example, if your answer is $ 1,628.8934, then enter 1628.89

2. You have a savings account, and you expect that in 5 years you'll have $6,023 saved in it. If the discount rate is 8%, what is the present value of that account?

Enter your answer in dollars, rounded to the nearest cent

3. You will be paid $122 in year 9. How much would that amount be worth in terms of dollars in year 2? The interest rate is 7%, and compounding is annual.

Enter your answer in terms of dollars, rounded to the nearest ce