How do these variables work together to determine an account's balance? Which of the following formulas would you choose to calculate the future balance on an account that earns compound interest? FV-PVXT- FV = PV x (1 + i)xt PV = p X(1 + i) FV - (PVx Now let's use these fundamental concepts to answer questions involving several different situations. Use the following table to see selected entries from the Future Value Interest Table 10 Periods 4.50% 1.3609 1.4221 1.4861 1.5530 1.6229 1.6959 1.7722 1.8519 15 1.9353 16 2.0224 2.1134 18 2.2085 2.3079 2.4117 21 2.5202 2.6337 2.7522 Interest Factors 5.00% 5.50% 6.00% 6.50 2.00% 7.50% 1.4071 1.4547 1.5036 1.5540 1.60581.6500 1.4775 1.53471.593R 1.6550 1.71R2 1.7835 1.5513 1.61911.6895 1.7626 1,83RS 1.9172 1.6289 1.7000 1.790R 1.4771 1.9672 2.0610 1.7103 1.4021 1.2983 1.9992 2.1049 2.2156 1.7959 1.8832 2.0122 2.1291 2.2522 2.3810 1.8856 1.9868 2.1329 2.2675 2.4096 2.5604 1.97992.0961 2.2609 2,4149 2.5785 2.7524 2.0789 2.2114 2.3966 2.5718 2.7590 2.9589 2.1829 2.3553 2.5404 2.7390 2.9522 3.1808 2.2920 2.48482.6928 2.9170 3,1588 3,4194 2.4056 2.6215 2.8543 3.1067 3.3799 3.6758 2.5270 2.7656 3.0256 3.3086 3.6165 3.9515 2.6533 2.9178 3.2071 3.5236 3.86974,2479 2.7860 3.0782 3.3996 3.7527 4.1406 4.5664 2.9253 3.2475 3.6035 3.9966 4,4304 4.9089 3.0715 3.4262 3.8197 4.2564 4.7405 5.2771 8.00% 1.7138 1.8509 1.9990 2.15A9 2.3316 2.5182 2.7196 2.9372 3.1722 3.4259 3.7000 3.9960 4.3157 4.5610 5.0338 5.4365 5.8715 8. 1. 1. 2. 2. 2. 2. 2. 3. 3. 3. 4. 4. 4. 5. 5. 6. 6. 22 Elizabeth To celebrate her first birthday, Elizabeth's parents deposited, on that date, $2,500 into a savings account that earns a fixed rate of 7.50% and compounds interest annually. How much money will have accumulated in Elizabeth's account as of her 19th birthday? Round your answer to the nearest dollar. On her 19th birthday, Elizabeth's account will have a balance of: $9,190 $4,793 $9,879