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Future Value of Savings Assignment | Homework For You

Author:
June 2nd, 2020

A woman deposits $6000 at the end of each year for 10 years in an account paying 8% Interest compounded annuallyHomework For You

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(a) Find the final amount she will have on deposit.

(b) Her brother-in-law works in a bank that pays 7% 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.)

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(b) She will have a total of s on deposit in her brother-in-law’s bank. (Simplify your answer. Round to the nearest cent as needed)

(c) She would lose $ over 10 years by using her brother-in-law’s bank. (Simplify your answer. Round to the nearest cont as needed.)Get Finance homework help today

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