Question: 1. TI Calculator Graded Problem Set Lisa needs to make some house repairs in three years that will cost $9,000. She has some money in
1. TI Calculator Graded Problem Set Lisa needs to make some house repairs in three years that will cost $9,000. She has some money in an account earning 7% annual Interest. How much money needs to be in the account today so she will have enough to pay for the repairs? $6,417 $6,950 $6,376 $7,347 56,866 Unfortunately, Usa doesn't have enough money in her account right now. She needs to make additional contributions at the end of each of the next three years to be able to pay for the repairs. Her account currently has $4,500, which, along with her additional contributions, is expected to continue earning 7% annual interest. If she makes equal contributions each year, how large must each contribution be for Lisa to have $9,000 after three years? $1,203 $417 $1,085 3487 5588
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
