How much must she deposit now in a savings account

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Reference no: EM131306587

1. Future Value. How much will you have in 36 months if you invest $75 a month at 10% interest?

2. Present Value. Cheryl wants to have $2,000 in spending money to take on a trip to Disney World in three years. How much must she deposit now in a savings account that pays 5% to have the money she needs in three years?

3. Present Value. Juan would like to give his newly born grandson a gift of $10,000 on his 18th birthday. Juan can earn 7% interest on a certificate of deposit. How much must he deposit now in order to achieve his goal?

Reference no: EM131306587

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