Savings Investment Assignment | Homework For You

You are planning to deposit $2,000 into an account at the end of year 1 and $3,000 at the end of year 2. If the account earns 4% interest, what will the account balance be by the end of year 3? Round to the nearest cent. Numeric Answer:

You decide you want to start saving some of your money, and decide you can afford to set aside $6,000 every year for the next 15 years at the end of each year based on your current income and expenses. Given an interest rate of 3%, how much will you have saved up in 15 years? Round to the nearest cent. Numeric Answer:

You find out you’re going to be inheriting some money from a very distant older cousin that just passed away. However, the cousin has decided to give this money to you in equal-sized portions over the next 25 years at the end of each year. If she’s promised to give you $10,000 each year, and the applicable discount rate is 4%, how much is your inheritance worth to you today? Round to the nearest cent. Numeric Answer: Get Finance homework help today