Calculate the future value of a savings account

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Reference no: EM131307347

1. Calculate the future value of a savings account of $10,000 for 6 years at 9¼% compound interest.

2. Find the current value of $7,950 due in 5 years if the money is worth 8½ %.

3. When Brook was born, his parents put down a deposit for him in an investment account earning 12¾%. When he graduated from college at age 22, he cashed in that account, receiving $35,036. How much was the initial deposit?

Reference no: EM131307347

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