QUESTION 4 Questions 4-7 are related and share the same information: Aunt Mabel promised to give you $9000 when you successfully complete your freshman
QUESTION 4 Questions 4-7 are related and share the same information: Aunt Mabel promised to give you $9000 when you successfully complete your freshman year, $6000 when you successfully complete your sophomore year, $1000 when you successfully complete your junior year, and $8000 when you successfully complete your senior year. Aunt Mabel made this promise when you graduated from High School and let's assume you go directly to the University of Illinois and graduate in four years. Aunt Mabel expects the interest rates to be 5.250% during your freshman year, 2.500% during your sophomore year, 3.250% during your junior year, and 9.250% during your senior year. If Aunt Mable can predict interest rates accurately, she will deposit into her bank account $ two places after the decimal) (dollars, rounded to QUESTION 5 and after your freshman year her bank balance will be $ (refers to the above problem statement) (dollars, rounded two places after the decimal) QUESTION 6 and after your sophomore year her bank balance will be $ (refers to the above problem statement) (dollars, rounded to two places after the decimal) QUESTION 7 and after your junior year her bank balance will be $ (refers to the above problem statement) (dollars, rounded to two places after the decimal)
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