Answer Happy

(Related to Checkpoint 5.2) (Future value) Leslie Mosallam, who recently sold her Porsche, placed $9,400 in a savings account paying annual compound interest of 6 percent. a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 2, 6, and 16 year(s). b. Suppose Leslie moves her money into an account that pays 8 percent or one that pays 10 percent. Rework part (a) using 8 percent and 10 percent. c. What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did? a. After placing $9,400 in a savings account paying annual compound interest of 6 percent, the amount of money that will accumulate if Leslie leaves the money in the bank for 2 year(s) is $ (Round to the nearest cent.)
(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Amount Annual Compounding Compounding Account Holder Deposited Interest Rate Periods Per Year (M) Periods (Years) Theodore Logan III $ 1,100 18% 1 10 Vernell Coles 94,000 8 3 2 Tina Elliot 8,000 8 6 5 Wayne Robinson 122,000 10 2 5 Eunice Chung 31,000 12 Kelly Cravens 14,000 12 12 (Click on the icon 9. in order to copy its contents into a spreadsheet.) N NOW ол во с 4 4 (Round to the nearest a. The amount of money in Theodore Logan Ill's account at the end of 10 years will be $ cent.)
(Related to Checkpoint 5.2) (Future value) You have just introduced "must have" headphones for the iPod. Sales of the new product are expected to be 25,000 units this year and are expected to increase by 23 percent per year in the future. What are expected sales during each of the next three years? Graph this sales trend and explain why the number of additional units sold increases every year. a. If the 25,000 units of sales this year were expected to increase by 23 percent per year, what are the expected sales of the new headphone next year? units (Round to the nearest whole number.)