Module 4 Activity Sheet: Savings CalculatorName:Directions: Use the savings calculator from Nerd Wallet to fill in the chart.Scenario: You earn $100 per month and want to save 10% in a savings account.1. How much will your monthly contribution be? Enter your response in the chart.2. Use the savings calculator to find out how much your total savings would be in 1 year ifyour account has an annual interest rate of 1%. What would your total savings be in 5years?3. You decide to increase your savings to 20%. Fill in the 2nd column.Save 10%Save 20%Monthly contribution1 year total5 year total4. Based on whatyou know about saving and investing, would the totals be the same if youhad invested the money, instead of saving it? Why or why not?

In the context of the given question, we are required to solve the problems. Workings: 1)…

Answered: Module 4 Activity Sheet: Savings…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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