Question 4:

Question 5:

Question 6:

(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: a. The amount of money in Theodore Logan III's account at the end of 6 years will be $ (Round to the nearest cent.) (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.3 million at the time of her retirement in 26 years. She has found a mutual fund that will earn 6 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 17 percent, how soon could she then retire? a. If Sarah can earn 6 percent annually for the next 26 years, the amount of money she will have to invest today is $. (Round to the nearest cent.) (Related to Checkpoint 5.2) (Future value) If you deposit $3,400 today into an account earning an annual rate of return of 7 percent, what would your account be worth in 25 years (assuming no further deposits)? In 30 years? a. If you deposit $3,400 today into an account earning an annual rate of return of 7 percent, what would your account be worth in 25 years? $ (Round to the nearest cent.)