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Hey, Can someone please help me with these two loan problems? Thanks so much


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Hey, Can someone please help me with these two loan problems? Thanks so much


1. Amy deposits $3000 into a money-market savings account which pays 4.8% compounded quarterly, and she make no withdrawals from or further deposits into this account for 3 years.  How much money is in her account at the end of those 3 years?


2. Mrs. Meyers wants to retire in 10 years.  She deposits $650.00 every three months into her retirement investment account.  If the account's interest rate is 7.8% compounded quarterly, how much will she have at the end of 5 years, when 20 quarterly deposits of $650.00 have been made?
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$ 3000

 

0.048

 

0.008

 

3,024.00

 

3,048.19

 

3,072.58

 

3,097.16

 

3,121.94

 

3,146.91

 

3,172.09

 

3,197.46

 

3,223.04

 

3,248.83

 

3,274.82

 

3,301.02 AT THE...

 


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