Lisa Anderson expects to need $80,000 for a down payment on a house in six years. How much would she have to invest today in an account paying 7.25 percent in order to have $80,000 in six years? (Round answer to 2 decimal places, e.g. 52.75.)
Present value
$_________________
Mary Smith has $10,000 that she can deposit into a savings account for five years. Bank A compounds interest annually, Bank B twice a year, and Bank C quarterly. Each bank has a stated interest rate of 4 percent. What account balance would Mary have at the end of the fifth year if she left all the interest paid on the deposit in each bank? (Round answers to 2 decimal places, e.g. 52.75.)
Bank A$______
Bank B$_________
Bank C$__________
Future Value