Quantitative Problem 1: You plan to deposit $2,000 per year for 6 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. What amount will be in your account at the end of 6 years? Do not round intermediate calculations. Round your answer to the nearest cent.
| FVOrdinary Annuity = C*(((1 + i )^n -1)/i) |
| C = Cash flow per period |
| i = interest rate |
| n = number of payments |
| FV= 2000*(((1+ 2/100)^6-1)/(2/100)) |
| FV = 12616.24 |
Quantitative Problem 1: You plan to deposit $2,000 per year for 6 years into a money...