Future

value.

$$Jack and Jill are saving for a rainy day and decide to put

$$$$70$

away in their local bank every year for the next

$2525$

years. The local$$ Up$-$the$-$Hill Bank will pay them

$55\%$

on their account.

a$.$If Jack and Jill put the money in the account faithfully at the end of every$$ year, how much will they have in it at the end of

$2525$

$$years$?$

b$.$ Unfortunately, Jack had an accident in which he sustained head injuries after only

$1010$

years of savings. The medical bill has come to

$$$$900900.$

Is there enough in the$$ rainy$-$day fund to cover$$ it$?$

Question content area bottom

Part $1$

a$.$ If Jack and Jill put the money in the account faithfully at the end of every$$ year, how much will they have in it at the end of

$2525$

$$years$?$

$$$enter your response here

$($Round to the nearest$$ cent.$)$

Part $2$

b$.$How much will they have in the account at the end of

$1010$

$$years$?$

$$$enter your response here

$($Round to the nearest$$ cent.$)$

Part $3$

Is there enough in the rainy day fund to cover the medical$$ bill?$($Select the best$$ response.$)$

A$.$

There is not enough information to answer this question.

B$.$Yes. They have enough money in the rainy day fund to cover the medical bill.

Yes. They have enough money in the rainy day fund to cover the medical bill.Yes.$$They$$have$$enough$$money$$in$$the$$rainy$$day$$fund$$to$$cover$$the$$medical$$bill$.$

C$.$No$.$ They don't have enough money in the rainy day fund to cover the medical bill.

No$.$ They don't have enough money in the rainy day fund to cover the medical bill.