Your grandmother has been putting $4,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 12%. How much money will be in...

Extracted text: Your grandmother has been putting $4,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 12%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is $ (Round to the nearest dollar.) Enter your answer in the answer box and then click Check Answer. All parts Clear All Check Answer


Extracted text: You have a loan outstanding. It requires making three annual payments of $7,000 each at the end of the next three years. Your bank has offered to allow you to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years. If the interest rate on the loan is 3%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is $ (Round to the nearest dollar.) Enter your answer in the answer box and then click Check Answer.