Answer Happy

न Bonus a. Sixteen years ago, your parents opened a saving account in your name and made a lump sum deposit, today the balance of this account is $260,000. If the account has been earning 6% compounded annually, how much did your parents initially deposit? b. Sixteen years ago, your parents deposited an amount in your saving account earing 6% annually, today the balance of this account is $260,000. If the account is expected to continue earning 6% annually, what will the balance be in 5 years? c. Sixteen years ago, your parents deposited an amount in your saving account, today the balance of this account is $260,000. If the account has been earning 6% compounded monthly, how much did your parents initially deposit? d. Sixteen years ago, your parents deposited an amount in your saving account, today the balance of this account is $260,000. If the account has been earning 6% compounded continuously, how much did your parents initially deposit? I Referring to (a), what was the balance in your saving account tree years ago? (Assume annual compounding)