5. You plan to deposit $500 into a bank account now (year 0), $300 in year...

5. You plan to deposit $500 into a bank account now (year 0), $300 in year 2, and $1000 in year 4. How much money will be in your account in year 7, if the annual interest rate is 5%?

a. 2,345

b. 2,244

c. 2,175

d. 2,500

6. If the interest rate is 6.5%, calculate the present value of $5000 paid annually over the next 25 years

a. 69,899

b. 65,798

c. 60,898

d. 60,989

Expert Solution

jeff jeffy answered 1 year ago

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