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To be honest, I do not know how to calculate the second question, can you show me the detail process? and also how to use
To be honest, I do not know how to calculate the second question, can you show me the detail process? and also how to use the financial calculator if it's possible.
Jenny Abel is investing $2,500 today and will do so at the beginning of another six years for a total of seven payments. Her investment can earn 12 per cent per year. i) How much will Jenny have at the end of seven years? (Round to the nearest dollar.) a. *b. c. d. $25,223 $28,249 $31,127 $29,460 Correct answer: b ii) Jenny has now decided to keep saving until the end of Year 10. She wishes to have $50,000 in her account for a house deposit. How much will Jenny have at the end of ten years assuming she can earn interest twice yearly, on the quoted 12% per year, and her payments are $1250 each half year? (Round to the nearest dollar.) a. *b. c. d. $48, 203 $48,741 $48,517 $48, 851Step by Step Solution
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