Question: Future value. Jack and Jal are saving for a rainy day and decide to put 350 away in their local barik every year foc the
Future value. Jack and Jal are saving for a rainy day and decide to put 350 away in their local barik every year foc the next 20 years. The local Up-the-Hal Bank will pay them 10% on their sccount. a. If Jack and Jill put the money in the account faithlly at the end of every year, how much will they have in it at the end of 20 years? b. Unfotunately, Jack had an accident h which he sustained head injuries mfter only 10 years of savings. The medical bilt has come to 5600 . is there enough in the rainy-day fund to cover it? It Jack and Ja put the money in the acoount faithfuly at the end of ewer year, haw much will they have in in at the end of 20 years? (Round to the nearest cent) b. How rruch will they hive in the account at the end of 10 years? (Round to the nearest cent). Is there enough in the rainy gay fund to cover the medical bin? (Select the best response.) A. No. They doat have enough money in the rainy doy fund to cover the medical bil. Tes Orervifi ouin Gias 3 hough money in the rainy day fund to cover the medeat bil. c. There is not onough informaish to anwaer this
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