If you deposit $100 in a savings account at the end of each month for 2 years, the balance will be a function f (r) of the interest rate, r%. At 7% interest (compounded monthly), f (7) = 2568.10 and f (7) = 25.06. Approximately how much additional money would you earn if the bank paid 7 1/2 % interest?

Q: future value of your money in 17 years.

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A: In this we have to find the future value of given value.

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A: Time value of money (TVM) means that the amount of money received in the present times will have…

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A: Under simple interest,Interest = Principal amount x rate of interest x time

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A: Future Value Future Value is the value which is measured at a specified date at a given interest…

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A: Future value is an estimated value of a current asset at an assumed growth rate over a certain…

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A: (A) n=p/yt Given t=10 years (p/y)=4 (since interest is compounded quarterly)

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A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

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A: First we have tor calculate the future value of $700 deposit today and then we will add the second…

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