Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. you wish to save $3500 at the end of 5 years by

1. You wish to save $3500 at the end of 5 years by depositing in$200...

70.2K

Verified Solution

Question

Accounting

1. You wish to save $3500 at the end of 5 years by depositing in$200 into your savings account today, $400 in 1 year, $600 in 2 years, $800 in 3 years, and $900 in 4 years. What interest rate must you earn to reach to goal? Express your answers as a percentage. (Enter only numbers and decimals in your response. Round to 2 decimal places.)

2. You deposit $100 into your savings account today, $200 in 1 year, $300 in 2 years. How much will you be able to withdraw at the end of 3 years if the interest rate is 6%? (Enter only numbers and decimals in your response. Round to 2 decimal places.)

Please show how I could enter it into a TI84 calculator and what formula used on paper so I can learn from it. Thanks in advance!

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

NO OTHER DATA PROVIDED 4. A give soil has a CEC of 12.50 cmol of charge...

Chemistry
Q

What are the different types of diabetes, and discuss the roles of insulin and glucagon in...

Medical Sciences
Q

Identify a practical example of Newton’s law of acceleration. Explain how the example illustrates the law.

Physics
Q

Entries for Flow of Factory Costs for Process Cost System Radford Inc. manufactures a sugar product...

Accounting
Q

Which of the following early naturalists was the first to observe that different layers of...

Biology
Q

Here is our probable hominin Ardipithecus ramidus cranium from Ethiopia The cranium itself it not...

Biology
Q

Some biologists model the number of species S in a fixed area A such as...

Calculus
Q

Find the roots of the following quadratic equa tions by factoring 7 x 2x 1...

Algebra
Q

The post-closing trial balance as of April 30, 20Y8, is shown below: Kelly...

Accounting
Q

The company had the following inventory at end-of-year prices: $1,230,000 in 2016 (base year), $1,345,000...

Accounting
Q

Requlred Information [The following information applles to the questions displayed below.] Laker Company...

Accounting
Q

ox Px (QY GDPn GDP growth inflation 2000 20 4 50 6 A D...

Accounting