Reference no: EM132622151
There are some finance questions. Please check for it and help me. Thanks
1. If you deposit $4,000 in a bank account that pays 3 percent annual interest, what would your account balance equal after 9 years?
2. What is the present value of $20,000 to be received 12 years from today, assuming a 5 percent annual interest (discount) rate?
3. Sue started a retirement savings plan. At the end of each year, for 25 years, Sue deposited $4,000 to her savings plan. If the retirement savings plan earns 4 percent, compounded annually, what will her account balance equal after Sue makes the last of her 25 annual savings deposits?
4. Tom was injured by a vehicle driven by a Rapid Transit delivery driver. To settle the claim for Tom's injuries, Rapid Transit agreed to pay Tom ten annual payments of $20,000 with the first of these payments three years from today. Assuming a 4 percent annual interest rate, what is the present value of Tom's settlement?
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