1 debra beach is a soda pop ldquoaddictrdquo and wonders, Ask an Expert

Finance

1. Debra Beach is a soda pop “addict” and wonders how much money she could accumulate if she stopped drinking soda pop and deposited the $125 per month she spends on the stuff into a savings plan. If Debra is 28 years old, what amount should she have at retirement, 42 years from now, if she deposited $125 at the end of each month and her savings plan earned 6.75% compounded monthly?

a $26,925.93

b $124,097.93

c $177,356.44

d $353,236.72

2. You deposited $600 in a savings account 15 years ago, earning 5% compounded quarterly. Today, you withdrew the entire balance of $1,264.31. What is the present value?

a $1,264.31

b $722.90

c $600

d $1,247.36

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92832447

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