a. The future value of a $560 savings deposit after eight years at an annual interest rate of 3 percent. b. The future value of saving $2,600 a year for five years at an annual interest rate of 4 percent. c. The present value of a $6,800 savings account that will earn 3 percent interest for four years.

a. The future value of a $560 savings deposit after eight years at an annual interest rate of 3 percent. b. The future value of saving $2,600 a year for five years at an annual interest rate of 4 percent. c. The present value of a $6,800 savings account that will earn 3 percent interest for four years.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...

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a. The future value of a $560 savings deposit after eight years at an annual interest rate of 3 percent.
b. The future value of saving $2,600 a year for five years at an annual interest rate of 4 percent.
c. The present value of a $6,800 savings account that will earn 3 percent interest for four years.

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