Answer Happy

(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $10,000 today into an account earning an annual rate of return of 10 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much results from compounding of interest? If you deposit $10,000 today into an account earning an annual rate of return of 10%, in the third year how much interest would be earned? (Round to the nearest cent.)
(Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.2 million at the time of her retirement in 30 years. She has found a mutual fund that will earn 8 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 18 percent, how soon could she then retire? a. If Sarah can earn 8 percent annually for the next 30 years, the amount of money she will have to invest today is (Round to the nearest cent.) $