What will be the value of her retirement account

Reference no: EM131485889

Question: 1. If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of that amount over 10 years if the funds were deposited in an account earning 3 percent?

2. Tran Lee plans to set aside $2,200 a year for the next seven years, earning 3 percent. What would be the future value of this savings amount?

3. Carla Lopez deposits $3,000 a year into her retirement account. If these funds have average earnings of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?

Reference no: EM131485889

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