1) George's grandmother promises to give him $1,000 at the end of each of the next five years. How much is the money worth today, assuming George could invest the money and earna 6% annual rate of return? (Round to the nearest dollar).
2) George's grandmother promises to give him $1,000at the end of five years. How much is the money worth today,assuming George could invest the money and earn a 6% annual rate ofreturn? (Round to the nearest dollar).
3) How much would George have to deposit in the banktoday if he will be earning a 6% annual rate of return and wantsto have $5,000 in the bank at the end of five years? (Round to thenearest dollar).
4) How much would George have to deposit in thebank at the end of each of the next five years if he wishes to have$5,000 in the bank at the end of that time period, assuming shewill be earning 6% annual rate of return? (Round to the nearestdollar).
5) Kristen deposits $5,000 in the bank today. Shewill be earning 6% interest annually on her deposit. How much moneywill she have in the bank at the end of 5 years? (Round to thenearest dollar).
6) Kristen deposits $5,000 in the bank at the endof each year for five years. How much money will she have in thebank at the end of five years, assuming she will be earning 6% interest annually on her deposits? (Round to the nearestdollar).