Q7 A) Problem 4-26 Calculating Future Values [LO 1] B You have $15,250 you want to invest for the next 38 years. You are offered an investment plan that will pay you 7 percent per year for the next 19 years and 11 percent per year for the last 19 years. Problem 4-18 Calculating Future Values [LO 1] Requirement 1: How much will you have at the end of the 38 years? (Enter rounded answer as directed, but do not use You have just made your first $5,000 contribution to your individual retirement account. Assume you earn a rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) 11.25 percent rate of return and make no additional contributions. Requirement 1: Amount S What will your account be worth when you retire in 40 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places Requirement 2: (e.g., 32.16).) If the investment plan pays you 11 percent per year for the first 19 years and 7 percent per year for the next 19 years, how much will you have at the end of the 38 years? (Enter rounded answer as directed, but do Amount not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Requirement 2: What if you wait 10 years before contributing? (Enter rounded answer as directed, but do not use Amount rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Amount C) Problem 4-2 Calculating Future Values [LO 1] D) For each of the following, compute the future value (Enter rounded answers as directed, but do not use Problem 4-1 Simple Interest versus Compound Interest [LO 1] rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16)): First City Bank pays 5 percent simple interest on its savings account balances, whereas Second City Bank pays 5 percent interest compounded annually. Present Value Years Interest Rate Future Value 2,800 17% Required: 00 If you made a deposit of $11,500 in each bank, how much more money would you earn from your Second 9.153 21 9 City Bank account at the end of 12 years? (Do not round intermediate calculations and round your 96.305 15 10 answer to 2 decimal places (e.g., 32.16).) 234,382 31 3 Difference $