If you deposit 3000 in a bank account that pays 9 interest, Financial Management

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If you deposit 3000 in a bank account that pays 9 interest

1. If you deposit $3,000 in a bank account that pays 9% interest annually, how much will be in your account after 5 years? Round your answer to the nearest cent.

2. What is the present value of a security that will pay $22,000 in 20 years if securities of equal risk pay 4% annually? Round your answer to the nearest cent.

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Financial Management: If you deposit 3000 in a bank account that pays 9 interest

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Financial Management: If you deposit 3000 in a bank account that pays 9 interest

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