Question: 14. You are saving for a new house and you put $10,000 per year in an account paying 8%. The first payment is made

14. You are saving for a new house and you put $10,000 per year in an account paying 8%. The first payment is made today. How much will you have at the end of 3 years? I 15. Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 9% annually, how much will you have in two years? How much will you have in 5 years if you make no further deposits?

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