Question: Use the present value and future value tables to answer the following questions. A. If you would like to accumulate $2,600 over the next 3
Use the present value and future value tables to answer the following questions. A. If you would like to accumulate $2,600 over the next 3 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,300 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $9,000 per year for 9 years at 12% interest, how much will you have at the end of 9 years? D. You win the lottery and can either receive $740,000 as a lump sum or $40,000 per year for 19 years. Assuming you can earn 8% interest, which do you recommend and why? Take the $40,000 per year for 19 years because it is more money. Take the lump sum $740,000 because it is more money
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