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Unformatted text preview: c. The amount a person would have to deposit today (present value) at a 6 percent interest rate to have $1,000 five years from now. $1,000 .747 = $747 d. The amount a person would have to deposit today to be able to take out $500 a year for 10 years from an account earning 8 percent. $500 6.710 = $3,355 10. Carla Lopez deposits $3,000 a year into her retirement account. If these funds have an average earning of 9 percent over the 40 years until her retirement, what will be the value of her retirement account? $3,000 259.060 = $777...
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- Fall '11