A. Use technology to apply the future value(FV) function and to answer the following questions.

a. What is the balance in an account after 21 years with monthly deposits of $225 and an APR of 3%?

b. If you double the APR in part(a), is the balancedouble, more thandouble, or less than double the balance in part(a)?

c. If you double the number of years in part(a), is the balancedouble, more thandouble, or less than double the balance in part(a)?

a. The balance in the account after 21 years is $ (Round to the nearest cent asneeded.)

b. If you double the APR in part(a) the balance in the account after 21 years is $ ,Which is Less than double, Double, More than Double. the balance in part(a). (Round to the nearest cent asneeded.)

c. If you double the number of years in part(a) the balance in the account after 42 years is $ , Which is Less than double, Double, More than Double. the balance in part(a).

(Round to the nearest cent asneeded.)

B. Abe deposits $55 each month for 60 years in an account with an APR of 3.5%. Beatrice deposits $110 each month for 30 years in an account with an APR of 3.5%.

a. Verify that Abe and Beatrice deposit the same amount of money during the stated periods of time. How much do theydeposit?

b. Use technology to compute the accumulated balance in each account and explain the results.

a. Select the correct choice belowand, ifnecessary, fill in the answerbox(es) to complete the choice.

A.

Abe and Beatrice both deposit $

b.

Abe deposits $ and Beatrice deposits $ , different fromAbe's deposit.

b. The accumulated balance inAbe's account is $ (Round to the nearest cent asneeded.)