Continue to make these deposits every year without fail

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Reference no: EM131027104

1. 8 years ago you started making annual deposits of $483 into an account paying 6% annual return. You continue to make these deposits every year without fail. If you keep doing this every year for the next 9 years, how much money will you have in 9 years?

2. You will receive $1,415 at the end each year in years 1 through 10, $2,477 in years 11 through 20, and $3,344 in years 21 through 30. How much is all this worth today, if the required rate of return is 6%?

Reference no: EM131027104

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