Make a ven sertHomePgUpPauseNumLockQuestion 6) Interest - worth 15% of the grade to 021 rrow-ded to cauze Isohamult (2 mobThe following formula will be helpful to the problems below:ntA = P(1 + 7) "²Suppose you deposit $10,000 into a savings account that has a rate of 6%. The interest is compoundedmonthly.a) How much money will you have after five years?A = 10,000 ( (0.06)(12)(5)sny bunys/jocb) How much did you make in interest over the five years?haq otwad rbldWisUSS=A99/wod19/wod87 19/wodstion 7) Annuities"lowing formulaor:ponateSuppose you want to save $50,000 for a downpayment on a house in ten years. If your saving accountsearns 6% interest compounded monthly, how much would you have to deposit now to reach the $50,000down payment in ten years?ies:T(C=

To calculate the amount of money you will have after five years and the amount of interest earned,…

The following formula will be helpful to the problems below: nt A = P(1 + 7) Suppose you deposit $10,000 into a savings account that has a rate of 6%. The interest is compounded monthly. a) How much money will you have after five years? A= 10,000 (0.06 12 (12)(5) USS = A 39 / wod 19/wod 5 b) How much did you make in interest over the five years? stion 7) Ar "lowinn or: Suppose you want to save $50,000 for a downpayment on a house in ten years. If your saving accounts earns 6% interest compounded monthly, how much would you have to deposit now to reach the $50,000 down payment in ten years?