Question: Part a and b please Suppose that you earned a bachelor's degree and now you're teaching high school. The school district offers teachers the opportunity

 Part a and b please Suppose that you earned a bachelor's

Part a and b please

Suppose that you earned a bachelor's degree and now you're teaching high school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you deposit $2000 at the end of each year in an annuity that pays 6.5% compounded annually. a. After 5 years, you will have approximately $ (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is approximately $. (Use the answer from part a to find this answer.) a. How much will you have saved at the end of five years? b. Find the interest

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!