Use the information in the chart below on the line that corresponds to your assigned number, to answer the following questions. Be sure to show all the steps you took to reach your answers. You open a savings account that pays compound interest. $1.$  Find the total amount $($a$/$k$/$a future value$)$ in the compound interest account after five years, assuming no withdrawals are made. $2.$  How much of this total amount is interest? Instead of a compound interest savings account, you set up a savings annuity at the same rate as the compound saving account. $1.$  How much will be in the account after five years. $2.$  How much of this total in the account is interest?

 

Assigned # Total Amount Annual Interest Invested in Rate compound interest account # times interest is compounded Amount paid into savings annuity account every month for five years 1. 3000 2.3% Monthly 50 2. 2400 3.5% Monthly 40 3. 3600 4.6% Monthly 60 4. 1200 2.7% Monthly 20 .5. 1800 3.1% Monthly 30 6. 4200 4.8% Monthly 70 7. 4800 2.2% Monthly 80 8. 5400 3.3% Monthly 90 9. 6000 4.4% Monthly 100 10. 1500 2.9% Monthly 25 11. 2100 3.2% Monthly 35 12. 2700 4.2% Monthly 45 13. 3300 3.5% Monthly 55 14. 3900 4.6% Monthly 65 15. 4500 2.7% Monthly 75 16. 5100 3.1% Monthly 85 17. 5700 4.8% Monthly 95 18. 6300 2.2% Monthly 105 19. 6000 3.3% Monthly 100 20. 6600 4.4% Monthly 110 21. 7200 2.9% Monthly 120