a. calculate the amount of money that will keep me late if Leslie leaves the money in the bank for three, seven, and 17 years.
b. suppose Leslie moved her money into an account that pays 8% or one that pays 10%. Rework part A using 8% and 10%.
c. what conclusions can you draw about the relationship between interest rates, time, and future sounds from the calculations you just did?
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a. after placing $9200 in a savings account paying annual compound interest rate of 6%, the amount of money that will accumulate if Leslie leaves the money in the bank for three years is $_______.
If she leaves the money in the bag for 7 years, the amount of money that will accumulate is $______.
If she leaves the money in the bank for 17 years, the amount of money that will accumulate is $_______.
b. if Leslie moves her money into an account that pays 8% compounded annually for 3 years, the amount of money that would accumulate is $______.
If Leslie moves her money into an account that pays 8% compounded annually for 7 years, the amount of money that will keep me late is $______.
If Leslie moves her money into an account that pays 8% compounded annually for 17 years, the amount of money that will accumulate is $______.
If Leslie moves her money into an account that pays 10% compounded annually for 3 years, the amount of money that will accumulate is $______.
If Leslie moves her money into an account that pays 10% compounded annually for 7 years, the amount of money that will accumulate is $______.
If Leslie moves her money into an account that pays 10% compounded annually for 17 years, the amount of money that will accumulate is $______.