WORKSHEET (3.3&3.4) 1. Suppose that you are an athlete who believes that your playing career will last 7 years. To prepare for your future, you deposits $22,000 at the end of each year for 7 years in an account paying 6% compounded annually. How much will you have on deposit after 7 years? 2. Suppose that you want to save $10,000 over a period of three years to buy a fishing boat. Your bank will pay 8% compounded semiannually on an account into which you will place your payments. If the payments are made semiannually, how much should each payment be for you
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This note was uploaded on 09/08/2010 for the course MATH 70 at San Jose State University .