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Use the tables below and Exhibit 1-A. Exhibit1-B. Exhibit 1-C. Exhibit 1-D to calculate the balances of the information provided below. Assume that the time
Use the tables below and Exhibit 1-A. Exhibit1-B. Exhibit 1-C. Exhibit 1-D to calculate the balances of the information provided below. Assume that the time period for each scenario is 5 years, and the interest rate is 2% A. Jamie Lee needs to save a total of $9,000 in order to get started in her cupcake cafe venture. She is presently depositing $1,800 a year in a regular savings account. Calculate the future value of these deposits. B. Assuming that she leaves her emergency fund of $1,800 untouched, how much will her emergency fund be worth? C. What if Jamie Lee had a relative that could give her money now that she could invest? What is the minimum amount she would need now to ensure that she had $9.000 when she wanted to open the cupcake cafe? Exhibit 1-A Future Value (Compounded Sum) of S1 after a Given Number of Time Periods Exhabit 1-B Future Value (Compounded Sum) of $1 Paid In at the End of Each Penod for a Given Number of Time Periods (an Anauty) Exhibit 1-C Present Value of $1 to Be Recerved at the End of a Given Number of Time Penods
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