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Use the present value and future value tables to answer the following questions. A. If you would like to accumulate $2,600 over the next
Use the present value and future value tables to answer the following questions. A. If you would like to accumulate $2,600 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,300 in a savings account, how much will you have at the end of 6 years with a 12% interest rate? C. You invest $8,000 per year for 11 years at 12% interest, how much will you have at the end of 11 years? $ D. You win the lottery and can either receive $740,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why? Take the $50,000 per year for 20 years because it is more money. Take the lump sum $740,000 because it is more money.
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