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Problem 1. Within the month, Joshua is taking a new job and moving to a city with an outstanding rapid transit system. He intends to sell his car for $7,500 and invest the money by placing it in a savings account. The account will pay 5% per year in compound interest, and he wants to keep the funds on deposit for three years. At the end of his investment period, Joshua expects to have an accumulated balance of account. (Note: Round your answer to the nearest whole dollar.) in his savings You can use the following dropdown menu to access a table of Future Value Interest Factors. Future Value Interest Factors Single Amount

Problem 2. Jacob is currently taking a course in personal finance and has learned the benefits of both starting a savings plan and starting it early. Therefore, he has decided to save $1,440 per year in an account that pays 7%. He plans to open the account tomorrow and will make deposits at the end of each year, including this year, for the next 25 years. (Note: Round your answer to nearest whole dollar.) By the end of his investment period, he will have saved You can use the following dropdown menu to access a table of Future Value Interest Factors Future Value Interest Factors Annuity Problem 3. Joshuas grandfather is pleased that his grandson is learning to save. To further encourage the practice, he has offered to give his grandson a gift of $3,000 per year for each year that Joshua keeps the proceeds from the sale of his car invested-presumably for the next three years. He has opened a new savings account that will pay a rate of 5% per year If Joshuas grandfather makes deposits of $3,000 per year into the new savings account for each of the next three years and the deposits are made at the end of each year, then the new savings account will have a total balance of at the end of year three. (Note: Round your answer to nearest whole dollar.) You can use the following dropdown menu to access a table of Future Value Interest Factors. Future Value Interest Factors ▼

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

AS TABLE IS NOT PROVIDED, I HAVE TAKEN VALUES ROUNDED TO 3 DECIMALS. IF 4 OR MORE DECIMALS ARE TO BE TAKEN, LET ME KNOW, WILL MAKE CHANGES

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