Suppose that a person deposits $500 in a savings account at the end of each year, starting now, for the next 12 years. If the bank pays 8% per year, compounded annually, how much money will accumulate by the end of the 12-year period?

If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be in your account after 5 years?

Assume you deposit $50,000 today in a bank account offering an interest rate of 7.50% per year, compounded annually.  How much interest on interest will you have earned after 3 years?

Leberland Corporation deposits $100,000 every year in a savings account (beginning at the end of the current year) for the next eight years so that it can purchase a new piece of machinery at the end of eight years. The interest rate is 5%. How much money will Leberland Corporation have at the end of eight years?Use the future value of an ordinary annuity factor table shown below to derive your answer.Excerpt from future value of an ordinary annuity factor table Periods 3% 4% 5% 6% 1 1.00000 1.00000 1.00000 1.00000 2 2.03000 2.04000 2.05000 2.06000 3 3.09090 3.12160 3.15250 3.18360 4 4.18363 4.24646 4.31013 4.37462 5 5.30914 5.41632 5.52563 5.63709 6 6.46841 6.63298 6.80191 6.97532 7 7.66246 7.89829 8.14201 8.39384 8 8.89234 9.21423 9.54911 9.89747 9 10.15911 10.58280 11.02656 11.49132 10 11.46338 12.00611 12.57789 13.18079 Group of answer choices $954,911 $477,456 $431,013 $215,507