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1..A bank account currently has a balance of $720 dollars. If the initial deposit was made...

1..A bank account currently has a balance of $720 dollars. If the initial deposit was made four years ago, and the simple interest rate is 5%, what was the initial deposit? (Round to the nearest cent and do not enter the dollar sign)

2..Find the future value of the following cash flow:

$1 in 2 years at 15%

(Round to the nearest cent and do not enter the dollar sign)

3..A bank account currently has a balance of $7,400 dollars. If the initial deposit was made four years ago, and the interest rate is 5% compounded annually, what was the initial deposit?

(Round to the nearest cent and do not enter the dollar sign)

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jeff jeffy answered 2 years ago
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