How much will deposited in a savings account

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Reference no: EM131339066

1. How much will $1,000 deposited in a savings account earning a compound annual interest rate of 6 percent be worth at the end of the following number of years?
a. 3 years

b. 5 years

c. 10 years

2. If you require a 9 percent return on your investments, which would you prefer?
a. $5,000 today

b. $15,000 five years from today

c. $1,000 per year for 15 years

Reference no: EM131339066

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