1. Adeposit of $820 earns interest rates of 8 percent in the first year and 11percent in the second year. what would be the second year future value?
(future value)
2. Consider that you are 40 years old and have just changed to a new job. you have $154,00p in the retirement plan from your former employer. you can roll that money into the retirement plan oh the new employer. you will also contribute $7,600 each year into your new employer's plan. If the rolled-over money and the new contributions both earn an 7 percent return, how much should you expect to have when you retire in 25 years? ( Future value )
3. Rachel purchased a $18,500 car three years ago using a 9 percent, 5 -year loan. she has decided that she would sell the car now, if she could get a price that would pay off the balance of her loan. What is the minimum price Rachel would need to receive for her car? (The minimum price)