Question: n d 15. Future Value Six thousand dollars is deposited in a savings account at 2.7% interest compounded monthly. Find the bal- ance after 3

after 3 years and the amount of interest earned during that time.

24. Comparing Payouts Is it more profitable to receive $7000 now or

$10,000 in 9 years? Assume that money can earn 4% inter- est

n d 15. Future Value Six thousand dollars is deposited in a savings account at 2.7% interest compounded monthly. Find the bal- ance after 3 years and the amount of interest earned during that time. 24. Comparing Payouts Is it more profitable to receive $7000 now or $10,000 in 9 years? Assume that money can earn 4% inter- est compounded quarterly. 1AAA YAANA (21. Savings Account Mr. Smith wishes to purchase a $10,000 sail- boat upon his retirement in 3 years. He has just won the state lottery and would like to set aside enough cash in a savings account paying 3.4% interest compounded quarterly to buy the boat upon retirement. How much should he deposit? 30. Savings Account If $5000 is deposited into a savings account at 1.8% interest compounded monthly, how much interest is earned during the first year? During the second year? 34. Savings Account How much money must you deposit at 2.1% interest compounded monthly in order to earn $347.58 inter- est in 3 years

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