Score: 0 of 1 pt 5 of 18 (1 complete) HW Score: 5.56%, 1 of 18 pts 8.2.45 Question Help With an annual inflation rate of 1.02%, how much did an item that now costs $7900 cost 10 years prior? An item that currently costs $7900 would have cost $ 10 years ago. (Round to the nearest cent as needed.)Score: 0 of 1 pt 6 of 18 (1 complete) HW Score: 5.56%, 1 of 18 pts Bus Econ 8.2.53 Question Help As the prize in a contest, you are offered $21,000 now or $39,600 in 8 years. If the money can be invested at 7% compounded annually, which prize will be worth more in 8 years? Choose the option which is worth more after 8 years. O accepting a $21,000 prize now and investing it at 7% compounded annually O accepting a $39,600 prize in 8 yearsScore: 0 of 1 pt 7 of 18 (1 complete) HW Score: 5.56%, 1 of 18 pts 8.3.7 Question Help Find the future value of the following ordinary annuity. Payments are made and interest is compounded as given. R =$750, 7% interest compounded quarterly for 8 years What is the future value of the ordinary annuity? $ (Round to the nearest dollar as needed.)Score: 0 of 1 pt 8 of 18 (1 complete) HW Score: 5.56%, 1 of 18 pts 8.3.9 Question Help Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. $377 per month invested at 6%, compounded monthly, for 5 years; then $479 per month invested at 7%, compounded monthly, for 5 years. What is the amount in the account after 10 years? $ (Round to the nearest dollar as needed.)Score: 0 of 1 pt 9 of 18 (1 complete) HW Score: 5.56%, 1 of 18 pts Bus Econ 8.3.39 Question Help A woman deposits $12,000 at the end of each year for 10 years in an account paying 5% interest compounded annually. (a) Find the final amount she will have on deposit. (b) Her brother-in-law works in a bank that pays 4% compounded annually. If she deposits money in this bank instead of the other one, how much will she have in her account? (c) How much would she lose over 10 years by using her brother-in-law's bank? (a) She will have a total of $ on deposit. (Simplify your answer. Round to the nearest cent as needed.)Score: 0 of 1 pt 10 of 18 (1 complete) HW Score: 5.56%, 1 of 18 pts Bus Econ 8.3.41 Question Help A full-time worker aged 20 invests $500 a month in a fund which has an average yearly return of 7.2% compounded monthly. (a) The worker wants to estimate what they will have for retirement when they are 60 years old if the rate stays constant. Assume monthly compounding. (b) If the worker makes no further deposits and makes no withdrawals after age 60, how much will they have for retirement at age 64? (a) How much money will the worker have in their fund when they are 60 years old? The worker will have $ in their fund when they are 60 years old. (Round to the nearest cent as needed.)
