How much will Sonja have in a savings account 12 years from now if she deposits $3000 now and $5000 four years from now? The account earns interest at a rate of 10% per year.
How much will Sonja have in a savings account 12 years from now if she deposits $3000 now and $5000 four years from now? The account earns interest at a rate of 10% per year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:How much will Sonja have in a savings account 12
years from now if she deposits $3000 now and
$5000 four years from now? The account earns
interest at a rate of 10% per year.
(a) $10,720
(b) $9,415
(c) $20,133
(d) $15,630
(e) Greater than $22,000
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