Related to Checkpoint 5

Related to Checkpoint 5
June 29, 2019
{Future value of an ordinary annuity)
June 29, 2019

{Related to Checkpoint 5.2} [Future value) Leslie Mosallam, who recently sold her Porsche, placed $8,600 in a savings account paying annual compound interest
of ? percent. a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 2r 6, and 16 year(s).
b. Suppose Leslie moves her money into an account that pays 9 percent or one that pays 11 percent. Rework part (3) using 9 percent and 11 percent.
c. What conclusions can you draw about the relationship between interest ratesr time, and future sums from the calculations you just did?

 
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