Question: How much interest is earned in the third year on a $1,000 deposit that earns 10% interest compounded annually? (2 points) I. 2. If you

 How much interest is earned in the third year on a

How much interest is earned in the third year on a $1,000 deposit that earns 10% interest compounded annually? (2 points) I. 2. If you seek to be a millionaire (savings- $1,000,000) when you retire in 45 years, how much must you deposit at the end of each year if you earn 6% compounded annually? (2 points) rate of interest. The loan will have annual ment will be $10,000. The other three 3. You would like to loan me $100,000 for five years at a 6% payments, but to make it attractive to me, the first and last pay payments will be equal. What do those payments need tobein rdert pro ey urg% return? (6 points)

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