Question: In one year, you will make an initial deposit in the amount of $1,000 in a new savings account. You plan to make additional deposits

In one year, you will make an initial deposit in the amount of $1,000 in a new savings account. You plan to make additional deposits in the same amount of $1,000 for 19 years after the initial deposit. There will only be these 20 deposits and no withdrawals made to your account. Assume the interest rate you will earn is 5% per year. How much will your account be worth in 20 years?

Today, you open a new savings account and deposit $1,000. No other deposits or withdrawals are made to your account. Assume you will earn 2% simple interest per year. How much will your investment be worth in 15 years?

An investment that currently sells for $240 makes payments every year forever, which grow at 10% annually. If the next payment amount is $12, what is the annual return on this investment?

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