A woman deposits $15,000 at the end of each year for 12 years in an investment account with a guaranteed interest rate of 5% compounded annually. (a) Find the value in the account at the end of the 12 years. (b) Her sister works for an investment firm that pays 4% compounded annually. If the woman deposits money with this firm instead of the one in part (a.), how much will she have in her account at the end of 12 years? (c) How much would she lose or gain over 12 years by investing in her sister's firm? Formula A: FV = PMT [(¹+*)**¹-¹] - PMT · [(¹+*?"-¹] Formula B: FV = PMT (a) The woman's deposits form an [Select] are made at the [Select] [Select] should be used. ✓because the deposits of each period. Therefore, Formula

A woman deposits $15,000 at the end of each year for 12 years in an investment account with a guaranteed interest rate of 5% compounded annually. (a) Find the value in the account at the end of the 12 years. (b) Her sister works for an investment firm that pays 4% compounded annually. If the woman deposits money with this firm instead of the one in part (a.), how much will she have in her account at the end of 12 years? (c) How much would she lose or gain over 12 years by investing in her sister's firm? Formula A: FV = PMT [(¹+*)**¹-¹] - PMT · [(¹+*?"-¹] Formula B: FV = PMT (a) The woman's deposits form an [Select] are made at the [Select] [Select] should be used. ✓because the deposits of each period. Therefore, Formula

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Subject: finance

(b) She will have a total of $ [Select]
firm at the end of 12 years.
(Do not round until the final answer. Then round to the nearest cent as needed, include dollars
and cents in your answer.)
in her account at her sister's
(c) She would [Select]
by investing in her sister's firm.
(Do not round until the final answer. Then round to the nearest cent as needed, include dollars
and cents in your answer.)
$ [Select]
over 12 years

A woman deposits $15,000 at the end of each year for 12 years in an investment
account with a guaranteed interest rate of 5% compounded annually.
(a) Find the value in the account at the end of the 12 years.
(b) Her sister works for an investment firm that pays 4% compounded annually. If
the woman deposits money with this firm instead of the one in part (a.), how much
will she have in her account at the end of 12 years?
(c) How much would she lose or gain over 12 years by investing in her sister's firm?
Formula A: FV = PMT [ (¹+1)
r[(²+4)*-¹-¹] - PMT
Formula B: FV = PMT [(¹+¹)^-¹]
(a) The woman's deposits form an [Select]
are made at the [Select]
[Select]
should be used.
because the deposits
of each period. Therefore, Formula
The value in the account at the end of the 12 years will be $
[Select]
(Do not round until the final answer. Then round to the nearest cent as needed, include dollars
and cents in your answer.)

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