Kelly Malone plans to have $50 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her plan for two and one-half years, how much will be accumulated in the account on the date of the last deposit?

Chelsea's current annual salary is $60,000. This salary is expected to increase by 4% each year. At the end of each year for the next 20 years, Chelsea plans to deposit 10% of her annual salary in a retirement account is paying 6% interest compounded monthly. Determine the amount Chelsea will have in the account at the end of the 20 years.

Donna enters into an investment contract that will guarantee her 4% per year if she deposits $3,500 each year for the next 10 years. She must make the first deposit one year from today, the day she signs the agreement. How much will she have when she makes her last payment 10 years from now?

When Joe and Sarah graduate from college, each expects to work a total of 45 years. Joe begins saving for retirement immediately. He plans to deposit $600 at the end of each quarter into an account paying 8.1% interest, compounded quarterly, for 10 years. He will then leave his balance in the account, earning the same interest rate, but make no further deposits for 35 years. Sarah plans to save nothing during the first 10 years and then begin depositing $600 at the end of each quarter in an account paying 8.1% interest, compounded quarterly for 35 years. Complete parts (a) through (e) below. a. Without doing any calculations, predict which one will have the most in his or her retirement account after 45 years. Then test your prediction by answering the following questions. Choose the correct answer below. O A. Joe will have more in his account after 45 years. Sarah contributed more money overall, but Joe was earning 8.1% interest per quarter for 35 years. Sarah will have more in her…

Jasdeep plans to deposit $150 at the beginning of each month for 20 years. If the account earns 7.2% compounded monthly for the first 12 years and 6% compounded monthly thereafter, how much will be in her account at the end of the 20 years? Your Answer: Answer