Question: Need this answered quickly! Will rate high! In this lab, we will discover what real interest rates look like. To complete this lab you will

 Need this answered quickly! Will rate high! In this lab, we

Need this answered quickly! Will rate high!

In this lab, we will discover what real interest rates look like. To complete this lab you will come up with a scenario where you would need to save money and determine what kind of return you could receive from an actual bank. Be prepared to answer the following questions. 1. What do you want to save money for? 2. How much will you need? 3. What bank are you considering? 4. What is the annual interest rate? 5. How often is the interest compounded? 6. If you put $1000 into the account for 5 years, how much would you have in the account after 5 years? 7. If you put $50 each month into the account, how much would you have after 5 years? 8. Try to figure out how much you would need to invest monthly and for how long so that you would have enough money for the item from #1

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