1. Suppose you invest a sum of $2,500 in an interest-bearing account at the rate of...

 

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1. Suppose you invest a sum of $2,500 in an interest-bearing account at the rate of 10% per year. What will the investment be worth six years from now? (Round your answer to the nearest whole dollar.) In six years the investment will be worth Scenario 2. How much would you need to invest now be able to withdraw $13,000 at the end of every year for the next 20 years? Assume a 12% interest rate. (Round your answer to the nearest whole dollar.) The current investment amount required is Scenario 3. Assume that you want to have $150,000 saved seven years from now. If you can invest your funds at a 6% interest rate, how much do you currently need to invest? (Round your answer to the nearest whole dollar.) The current investment amount required is Scenario 4. Your aunt Joan plans to give you $3,000 at the end of every year for the next ten years. If you invest each of her yearly gifts at a 12% interest rate, how much will they be worth at the end of the ten-year period? (Round your answer to the nearest whole dollar.) In ten years the investment will be worth Scenario 5. Suppose you want to buy a small cabin in the mountains four years from now. You estimate that the property will cost $53,000 at that time. How much money do you need to invest each year in an interest-bearing account at the rate of 8% per year to accumulate the purchase price? (Round your answer to the nearest whole dollar.) 1. Suppose you invest a sum of $2,500 in an interest-bearing account at the rate of 10% per year. What will the investment be worth six years from now? (Round your answer to the nearest whole dollar.) In six years the investment will be worth Scenario 2. How much would you need to invest now be able to withdraw $13,000 at the end of every year for the next 20 years? Assume a 12% interest rate. (Round your answer to the nearest whole dollar.) The current investment amount required is Scenario 3. Assume that you want to have $150,000 saved seven years from now. If you can invest your funds at a 6% interest rate, how much do you currently need to invest? (Round your answer to the nearest whole dollar.) The current investment amount required is Scenario 4. Your aunt Joan plans to give you $3,000 at the end of every year for the next ten years. If you invest each of her yearly gifts at a 12% interest rate, how much will they be worth at the end of the ten-year period? (Round your answer to the nearest whole dollar.) In ten years the investment will be worth Scenario 5. Suppose you want to buy a small cabin in the mountains four years from now. You estimate that the property will cost $53,000 at that time. How much money do you need to invest each year in an interest-bearing account at the rate of 8% per year to accumulate the purchase price? (Round your answer to the nearest whole dollar.)

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