Question: omework 2 : (Related to Checkpoint 5.2) (Future value) Leslie Mosallam, who recently sold her Porsche, placed $9,800 in a savings account paying annual compound
omework 2 : (Related to Checkpoint 5.2) (Future value) Leslie Mosallam, who recently sold her Porsche, placed $9,800 in a savings account paying annual compound interest of 6 percent. a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 2,6 , and 16 year(s) b. Suppose Leslie moves her money into an account that pays 8 percent or one that pays 10 percent. Rework part (a) using 8 percent and 10 percent. c. What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did? a. After placing $9,800 in a savings account paying annual compound interest of 6 percent, the amount of money that will accumulate if Leslie leaves the money in the bank for 2 year(s) is $11011.28. (Round to the nearest cent.) If she leaves the money in the bank for 6 years, the amount of money that will accumulate is $ (Round to the nearest cent) If she leaves the money in the bank for 16 years, the amount of money that will accumulate is $ (Round to the nearest cent, b. If Leslle moves her money inte an account that pays 8 percent compounded annually for 2 year(5), the amount of money that will accumulate is $ (Round to the nearest cent)
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