Question: Future value. Let's say that Bob inherits $150,500 from his grandmother's estate. Bob decides to put the money into a 5 -year certificate of deposit

Future value. Let's say that Bob inherits
Future value. Let's say that Bob inherits $150,500 from his grandmother's estate. Bob decides to put the money into a 5 -year certificate of deposit (CD) that yields 3.8% interest. At the end of five years, how much will the CD be worth? Show your work. You may handwrite your answer, but it must be legiblel Present value. Let's say that Carol is informed that she will receive $450,000 in seven (7) years. If the discount rate is currently 5.5% and is expected to remain stable throughout the six years, how much is the money worth today? Show your work. You may handwrite your answer, but it must be legible

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