he stated interest rate on your account is 5%, interest compounded monthly. If you deposit $50 each month, how much will you have in your account in 5 years? Group of answer choices $3,000 $3,200 $3,050 $4,350 $3,400

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You decide to deposit your money today in a bank account paying 6.30% interest, compounded monthly. If the value of your savings grows to $3, 800 in 10 years, how much did you deposit? Answer a. $1,826 b. $ 2,027 c. $2,193 d. $1,988 e. $1,907

You would like to save a million dollars by depositing $25,000 at the end of year into an account that pays 8% interest annually. How long will it take you to achieve your savings goal? Group of answer choices 18.65 years 12.35 years 20.0 years 40.00 years 37.04 years

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You are going to deposit $3,500 in an account that pays .61 percent interest per quarter. How much will you have in 7 years? Multiple Choice $4,124.57 $4,154.34 $4,143.38 $4,149.73 ☐ $4,175.05

How much should you pay for the promise of $2,000 in 5 years? Assume you would like to earn 4.5% per year.   Group of answer choices 1. $1,865 2. $2,000 3. $2,100 4. $1,605

Savings Plan Suppose you deposit $450 monthly into an account for seventeen years. The account has an APR of 4.2% compounded monthly. a. Find the ending balance (after 17 years). Answer: $ _____________ b. How much of the ending balance is money you deposited? (HINT: Find the total deposits.) Answer: $ _____________ c. How much of the ending balance is interest? (Use your rounded answer to part a.) Answer: $ _____________

A new investment opportunity for you is an annuity that pays $560 at the beginning of each year for 3 years. You could earn 5.4% on your money in other investments with equal risk. What is the most you should pay for the annuity? Group of answer choices $1,595.40 $1,756.86 $1,517.12 $1,442.76 $1,696.61

You plan to deposit $3,600 each year for the next 12 years. The interest rate is 9 percent. If you currently have $10,000 in your account, how much would you have in the account at the end of the 12th year? Group of answer choices $98,216 $43,136 $93,499 $53,200 $100,633